Analysts fell profitability already priced in Hindustan Zinc and Cairn India results. Even more than 80 percent of operating profit already priced in from both companies.
Its profitability is solely driven by Hindustan Zinc and Cairn India, wherein company owns 65 percent and 59 percent stake, respectively. Both companies contribute around 75 percent of the total EBITDA of Vedanta.
Tarang Bhanushali of IIFL gives his opinion on Vedanta‘s March quarter performance.
Vedanta's (earlier known as Sesa Sterlite) fourth quarter profit is likely to fall 57 percent year-on-year to Rs 690 crore due to weak earnings from Cairn India, according to a CNBC-TV18 poll.
Tom Albanese, chief executive officer, Sesa Sterlite, says he expects iron ore mining to start sooner in Karnataka than in Goa.
Vedanta Group‘s Sesa Sterlite is expected to report a 21 percent drop in third-quarter net profit to Rs 1,480 crore (versus Rs 1,860 crore year-on-year) while revenues are expected to come in flat at Rs 19,300 crore (compared to Rs 19,523 crore), according to a CNBC-TV18 poll of analysts.
Tom Albanese, chief executive office, Sesa Sterlite, says the Q2 business saw a significant improvement on sequential basis and the strong earnings come in a subdues environment.
The steel major's net profit declined 31.7 percent (up 23.6 percent quarter-on-quarter) to Rs 1,658 crore in July-September quarter from Rs 2,429 crore in the year-ago period.
The metals and mining company is expected to report a 37 percent decline in second quarter profit after tax at Rs 1,510 crore compared to Rs 2,394 crore in the year-ago period, according to the average of estimates of analysts polled by CNBC-TV18.
Sesa Sterlite is slated to announce its third quarter earnings today. The company is declaring numbers as a merged unit for the second time. Sesa Sterlite's consolidated numbers will include Cairn India, Sesa Goa and Vedanta Aluminium. Year-on-year numbers are not comparable.
Sesa Sterlite's consolidated numbers will include Cairn India, Sesa Goa and Vedanta Aluminium. Vedanta Resources merged Sterlite Industries with Sesa Goa in August and renamed latter as Sesa Sterlite.
Mining ban hit Sesa Goa is confident to mine 2.29 million tonne of iron ore from its Narrain mine in Karnataka by current financial year end.
Sesa Goa‘s revenue and operating profit will be almost nil due to continued mining ban in Goa and Karnataka during June quarter.
â€œSesa Goa is awaiting statutory clearances, including forest clearance that expired in October 2012 and will resume mining in Karnataka,â€ PK Mukherjee, managing director, Sesa Goa told CNBC-TV18 in an exclusive interview.
Iron ore miner Sesa Goa's fourth quarter performance will almost be a non event as its operations in Karnataka and Goa remained shut due to the ongoing mining ban.
Sesa Goa, a subsidiary of London Stock Exchange-listed Vedanta Resources, is set to announce its second quarter numbers today. Analysts on an average expect the company's profit after tax to grow by nearly 400 times to Rs 475 crore during the July-September quarter from Rs 1.28 crore in a year ago period due to inclusion of Cairn India's numbers.
The management of Vedanta Resources re-iterated that plans to consolidate and simplify the company's structure were on track for completion in the last quarter of FY12 as it has received shareholder approval and the go-ahead from the Foreign Investment Promotion Board during the quarter.
After a year-long iron ore mining ban in Karnataka, Sesa Goa is hopeful of re-starting production in the state soon. The firm has already submitted a detailed plan to the Indian Bureau of Mines (IBM) for a final approval so that it can resume operations there, said P.N Mukherjee, Sesa Goa‘s managing director CEO in an earnings call today.
Sesa Goa, India's largest producer and exporter of iron ore in the private sector, is set to announce its results for the quarter ended June 2012. Analysts on an average expect profit after tax to increase by 17% year-on-year to Rs 986 crore in the first quarter of FY13, but that is likely to fall by 15% quarter-on-quarter.
Sesa Goa, India's largest producer and exporter of iron ore in the private sector, is set to announce its results for the quarter ended June 2012. Analysts on an average expect profit after tax to increase by 17% year-on-year to Rs 986 crore in the first quarter of FY13.
Sesa Goa expects the Supreme Court to lift mining ban in Karnataka by June-July this year. The company‘s iron ore production declined 27% to 13.80 million tonnes (MT) in FY12 due to this mining ban. The SC had banned mining in Karnataka last year due to environmental concerns
Sesa Goa has reported a decline of 20.50% in its net profit to Rs 1,162.11 crore for the March quarter mainly on the back of higher export duties and interest cost. However, sales of the company were down 23% to Rs 2,791.37 crore.
Sesa Goa, the country's largest iron ore exporter is set to announce its quarterly earnings today. CNBC-TV18 poll expects the company to report a decline of 28% YoY in its profit after tax at Rs 1,046.43 crore.
Sesa Goa, the country's largest iron ore exporter is set to announce its quarterly earnings on Tuesday. CNBC-TV18 poll expects the company to report a decline of 28% YoY in its profit after tax at Rs 1,046.43 crore.
Motilal Oswal has come with its March quarterly earning estimates for Metals sector. As per the research firm, steel prices are expected to soften gradually due to demand slow down in China due to falling fixed asset investment.