Vedanta Q3 earnings: Net profit falls 18%, revenue rises to Rs 34,968 crore

Metal and mining major Vedanta Ltd reported a 18.30% fall in consolidated net profit for the December 2023 quarter. Net profit fell to Rs 2,013 crore in the December 2023 quarter against Rs 2,464 crore in the December 2022 quarter. Consolidated revenue from operations climbed 3.76 percent to Rs 34,968 crore in the last quarter against Rs 33,691 crore in the year-ago period. 

Vedanta said it posted its highest ever Q3 consolidated revenue, up 4% QoQ. 

Consolidated quarterly earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 22% to Rs 8,677 crore on a YoY basis and climbed 21% on a QoQ basis. 

Profit after tax before exceptional items zoomed 8% YoY to Rs 2,868 crore. It climbed 112% on a QoQ basis. The metal and mining firm said it generated strong free cash flow (pre capex) of Rs 4,306 crore in 3QFY24. 

The earnings were announced after market hours today. The metal stock ended 0.40% higher at Rs 263.55 on BSE. Market cap of the firm stood at Rs 97,966 crore.

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