Vedanta Q1 Results Highlights: Net profit rises 54% to ₹5,095 crore, revenue up 5.6%

• Consolidated revenue of ₹35,239 crore, up 1% QoQ and 5.6% YoY.
• Consolidated EBITDA of ₹10,275 crore, up 15% QoQ and up 47% YoY.
• EBITDA margin of 34%, ~1000 bps YoY.
• Profit after tax at ₹5,095 crore, up 124% QoQ and 54% YoY.
• Net debt of ₹61,324 crore as on June 30, 2024.
• Raised ₹8,500 crore through one of the largest QIP in industry.
• All the requisite approvals secured, and demerger scheme filed with NCLT; demerger is on track.

Commenting on Q1 FY25 results, Arun Misra, Executive Director of Vedanta Limited, 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. Moving ahead, our focus on operational efficiency, sustained expansion, and ESG excellence will guide our journey. With this dedication, we are confident in our ability to create substantial shareholder value in the year ahead."

Ajay Goel, Chief Financial Officer (CFO) of Vedanta, said "The start of FY25 has demonstrated phenomenal growth. In this quarter, we achieved an impressive EBITDA of ₹10,275 crore, a jump of 47% YoY, with robust EBITDA margin of 34% and a PAT of ₹5,095 crore, with YoY growth of 54%. This reflects strong business performance on cost and volume which is additionally supported by elevated commodity prices. The overwhelming response to the Vedanta’s $1 bn QIP, one of the largest in industry, underscores investor’s huge confidence. The proceeds from the QIP will be further instrumental in deleveraging balance sheet and reduction of finance cost. We have received all the requisite approvals and have filed the demerger scheme with the National Company Law Tribunal (NCLT) taking our demerger a step closer to reality."

Vedanta Limited is one of the world’s biggest natural resources conglomerates, with primary interests in aluminium, oil and gas, zinc-lead-silver, iron ore, copper, power, steel, ferro alloys, nickel, semiconductor and glass.

• Current price: ₹415.4 (+0.5%)
• Open: ₹417.5
• High: ₹421.9
• Low: ₹413.2

Vedanta Ltd had reported a 27% drop year-on-year (YoY) in consolidated net profit for the quarter ended March 31, 2024, at ₹1,369 crore as against ₹1,881 crore profit after tax (PAT) reported in the corresponding quarter of FY23.

The mining company's consolidated revenue from operations marginally dropped to ₹34,937 crore in Q4FY24 YoY, down 6.1% compared to ₹37,225 crore reported in the year-ago period.

• Anil Agarwal, Non-Executive Chairman
• Navin Agarwal, Executive Vice Chairman
• Arun Misra, Executive Director
• Priya Agarwal Hebbar, Non-Executive Director
• Dindayal Jalan, Independent Director
• U K Sinha, Independent Director
• Padmini Sekhsaria, Independent Director
• Pallavi Joshi Bakhru, Independent Director

Current price: ₹415.7 (+0.6%) Open: ₹417.5 High: ₹421.9 Low: ₹415.1

Apart from Vedanta, other companies that will release their Q1 results today include Tata Power, TVS Motor, PB Fintech, Lupin, Bajaj Electricals, Fortis Healthcare, Kalyani Steels, Vadilal Industries and Blue Star.