Vedanta Q3 results: Net profit rises 76% to ₹3,547 crore, revenue surges past 10%

The profit grew on the back of higher income, which surged 9.5% YoY to ₹39,795 crore, compared to ₹36,320 crore it reported in the third quarter of the 2023-24 fiscal (Q3 FY24).

Additionally, Vedanta reported a 10.18% increase in its revenue from operations which stood at ₹38,526 crore in the three months ended December 31, 2024, over ₹34,968 crore in the year-ago period.

Vedanta's consolidated revenue for the third quarter stood at "₹38,526 crore, up 4% quarter-on-quarter (QoQ) and 10% YoY driven by favourable market prices and higher premiums."

The company’s total expenses during the quarter stood at ₹33,134 crore, jumping 2.85% from ₹32,215 crore in the same quarter last year.

The company's gross debt stood at ₹78,496 crore as of December 31, 2024.

Here's what the management had to say about Q3 results

"We have delivered our highest-ever 3rd quarter EBITDA of ₹11,284 crore. Our strategic focus on cost optimisation and production ramp-up across our key businesses has helped us to continue delivering this outperformance,” Vedanta’s Executive Director Arun Misra commented.

Notably, we witnessed a 58% YoY jump in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) at our aluminium business and a 28% increase in our Zinc India business. We expect this outperformance to continue in the coming quarters driven by our ongoing growth initiatives and business integration projects," he added.

The company's CFO Ajay Goel, said its demerger is progressing well and the shareholders’ and creditors’ meeting is scheduled for the next month.

Vedanta Resources restructured $3.1 billion debt

Vedanta said that its parent company Vedanta Resources Ltd (VRL) successfully restructured $3.1 billion through bond issuances in the last four months resulting in longer maturities of up to eight years.

Shares of Vedanta closed in the green at ₹440.40 apiece, up 1.84% on the National Stock Exchange (NSE) on Friday, January 31.

About the company

Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world’s leading natural resources, critical minerals, energy and technology companies spanning across India, South Africa, Namibia, Liberia, UAE, Saudi Arabia, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate.

The company has a total market cap of ₹1.72 lakh crore as of January 31, 2025, on the NSE.