Vedanta swings into the black; posts Rs 6,432 cr revenue in March quarter


Ltd on Thursday reported a consolidated revenue of Rs 6,432 crore for March quarter 2020-21 on the again of varied components, together with higher volumes and decrease price of manufacturing.

It had posted a loss (attributable to house owners of Vedanta) of Rs 12,521 crore within the year-ago interval.

The corporate’s earnings within the interval underneath evaluation elevated to Rs 29,065 crore from Rs 20,382 crore in the identical interval a 12 months in the past.

Group CEO Sunil Duggal mentioned the corporate’s companies delivered report operational efficiency, sustaining the trajectory of price and volumes, pushed by structural integration and know-how adoption.

“Our companies have proven resilience in unsure market surroundings as we proceed with our successful streak, reporting the best ever quarterly EBITDA. We’re absolutely supporting our workers, companions, and communities to navigate by means of these robust occasions. We’re properly on our path to execute on strategic priorities to maximise worth for stakeholders,” he added.

Group Deputy CFO Ajay Goel in a concall attributed good to varied components like higher volumes and decrease price of manufacturing

“Final 12 months, we had taken one impairment in our oil and gasoline enterprise. It was fairly a big quantity…that’s one time non-cash cost that led backside line to grow to be purple,” he mentioned.

“Within the fourth quarter our volumes in couple of companies particularly zinc and aluminium are report excessive. The price of manufacturing is decrease in nearly throughout the portfolios. These two components coupled with LME costs once more being report excessive…higher volumes, decrease price (of manufacturing), higher LME costs led to 88 per cent leap in EBITDA for the fourth quarter,” he defined.

Income within the quarter was at Rs 27,874 crore, increased 24 per cent quarter-on-quarter (q-o-q) and 43 per cent year-on-year primarily resulting from increased quantity at aluminium enterprise, Zinc India and iron ore enterprise amongst others, the corporate mentioned.

“Depreciation & amortisation for This fall FY2021 was at Rs 2,054 crore, increased 7 per cent q-o-q, primarily resulting from increased quantity and tasks capitalisation at Zinc India and capitalisation of pots in aluminium enterprise,” it mentioned.

The corporate mentioned it has strong money and money equivalents of Rs 32,614 crore and added that its internet debt was at Rs 24,414 crore as on March 31, 2021.

(Solely the headline and movie of this report could have been reworked by the Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)

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