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

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

Vedanta Q3 earnings: Net profit fell to Rs 2,868 crore in the December 2023 quarter against Rs 3,092 crore in the December 2022 quarter.

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Aseem Thapliyal
Aseem Thapliyal
  • Updated Jan 25, 2024 5:06 PM IST
Vedanta Q3 earnings: Net profit falls 18%, revenue rises to Rs 34,968 crore Vedanta shares ended 0.40% higher at Rs 263.55 on BSE. Market cap of the firm stood at Rs 97,966 crore.
SUMMARY
  • 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. 
  • Vedanta said it posted its highest ever Q3 consolidated revenue up 4% QoQ. 

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.

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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.

ALSO READ: JSW Steel, Vedanta, Punjab National Bank: Trading strategies for these buzzing stocks

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

ABOUT THE AUTHOR

Aseem Thapliyal
Aseem Thapliyal

A journalist with over 12 years' experience, who tracks trends in the share market and writes stock market stories. An active follower of Sensex and Nifty, I capture stocks in news and analysis by share market experts and brokerages on their outlook and price targets. I cover company news/earnings leading to a rally or crash in particular stocks or stock market indices. Also track impact of global stock markets on their Indian peers. I have worked with Live Mint and NDTV Profit in previous stints. My hobbies are exploring new places, travelling, watching movies, spending time with friends and family, watching web series, playing cricket and football. I have completed graduation from Delhi University along with a PG Diploma in journalism from IIMC. I can be reached easily via social media platforms.

Published on: Jan 25, 2024 4:25 PM IST
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