Vedanta Q1 earnings: Net profit rises 54%, revenue at Rs 35,329 crore 

Metals and mining firm Vedanta reported a 54% rise in net profit for the June 2024 quarter. Profit climbed to Rs 5,095 in Q1 against a profit of Rs 3,308 crore on a year-on-year (YoY) basis. Revenue climbed 6% to Rs 35,329 crore in Q1FY25 against Rs 33,342 crore revenue in Q1FY24. 

Shares of Vedanta were trading 0.82% higher at Rs 417.05 amid weak sentiment in the equity market today. A total of 9.49 lakh shares of the firm changed hands amounting to a turnover of Rs 39.55 crore on BSE. Market cap of Vedanta stood at Rs 1.62 lakh crore on BSE.

Consolidated EBITDA of the metal and mining firm rose 47% YoY to Rs 10,275 crore in the last quarter. 

EBITDA margins for the June quarter came at 34%, rise of 1,000 bps YoY. Net debt at the end of the June 2024 quarter stood at Rs 61,324 crore as on June 30, 2024. Net debt/ EBITDA ratio, the firm said, came at the industry best of 1.5 times in 1QFY25 against 1.9 times in Q1FY24.

Arun Misra, Executive Director at Vedanta said “Vedanta has delivered a strong start to the year, with exceptional EBITDA improvement of 47% and PAT improvement by 54% year over year on the back of improved margins, and robust cost reduction across all operations. Our aluminium and zinc divisions continue to outperform industry benchmarks, consistently ranking in the top quartiles and deciles of the global cost curve. These achievements are a direct result of our strategic focus on cost, as reflected in a 20% year-over-year reduction in overall Cost. Our growth projects are well on track, and we remain committed to commission the majority of these projects in FY25.”