Vedanta Q2 PAT up 486% YoY at Rs 4,644 cr; revenue rises to Rs 30,048 cr

Vedanta on Friday reported a consolidated profit after tax (PAT) of Rs 4,644 crore for the quarter ended September 30, 2021, up 486% year-on-year (YoY) on the back of steady volume performance and sustained margins from high commodity prices, it said in a regulatory filing. 

Consolidated revenue also came in higher for the mining major at Rs 30,048 crore for the quarter, a 44% on-year jump, primarily supported by improved commodity prices and higher volumes across businesses, partially offset by lower sales volume at Zinc India, copper and TSPL.

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The quarterly EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also registered a 62% YoY increase to stand at Rs 10,582 crore, mainly backed by improved commodity prices and higher volumes at Aluminium. 

This was partially offset by lower sales volume at Zinc business and higher COP impacted by input commodity inflation

The company had a robust EBITDA margin1 of 40% during the quarter compared to 36% in Q2 FY2021.

Commenting on the Q2 performance, Vedanta CEO Sunil Duggal said, "We witnessed steady volume performance across business segments, and sustained margins benefitting from high commodity prices despite a challenging cost environment. We continue to focus on prudent capital allocation and deleveraging."  
He added that the company managed to reduce its net debt by Rs 7,232 crore YoY.

Duggal further stated that Vedanta will continue its commitment of rewarding shareholders "with interim dividend of Rs 18.5 per share, entailing pay-out of Rs 6,855 crore."

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