Vedanta Limited on Friday released its fiscal second quarter earnings report with profit at Rs 5,603 crore in comparison to a loss of Rs 915 crore posted during the corresponding quarter of FY24. It reported revenue from operations at Rs 37,171 crore, down 3.6 per cent as against Rs 38,546 crore during the second quarter of previous financial year. The mining major’s EBITDA stood at Rs 9,828 crore, down 14.4 per cent on-year, majorly due to favourable output commodity prices, structural cost saving initiatives and increased premia across businesses.
Ajay Goel, CFO, Vedanta Limited, said, “This has been an outstanding quarter, highlighted by significant progress in our corporate and strategic initiatives, strong financial results, and excellent operational performance. We delivered our highest-ever H1 EBITDA of Rs 20,639 crore, up 46 per cent YoY, with a robust 34 per cent EBITDA margin and PAT before exceptional items of Rs 4,467 crore, a 230 per cent YoY increase. This strong performance is driven by cost efficiency, volume growth, and favourable commodity prices.
Additionally, he added that the company has raised $1.4 billion at Vedanta through a $1 billion QIP and a $400 million HZL OFS. At the same time, with the $1.2 billion VRL bond issuance and ongoing deleveraging, Vedanta has reduced Holdco debt to $4.8 billion, the lowest level in a decade.
The second quarter depreciation & amortization stood at Rs 2,696 crore, up 2 per cent YoY mainly in Oil & Gas and increased capitalization at Aluminium.
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