Vedanta’s EBITDA Margin Slips Sharply in Q3, PAT Falls 42% YoY

  • Investing.com
  • Stock Market News
Vedanta’s EBITDA Margin Slips Sharply in Q3, PAT Falls 42% YoY
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The mining company Vedanta (NS: VDAN ) released its earnings result for the December 2022 quarter on Friday, posting a year-on-year decline in its bottomline figure.

The mega-cap company’s consolidated profit after tax grew 15% sequentially to Rs 3,092 crore but declined 42.2% YoY in the December quarter.

The revenue dipped 7% QoQ and remained flat on a YoY basis at Rs 33,691 crore in Q3 FY23 due to moderation in output commodity prices and lower strategic hedging gains, offset partially by favourable foreign exchange movement.

The heavyweight’s EBITDA tanked 35% YoY and 12% QoQ to Rs 7,100 crore in Q3 FY23, driven by lower output commodity prices and lower strategic hedging gains.

The EBITDA margin fell sharply to 24% in the quarter under review from 37% YoY and remained flat compared to the September quarter.

The company continues to maintain a strong double-digit return on capital employed to approximately 23%, along with healthy cash and cash equivalents of Rs 23,474 crore as on Dec 31, 2022.

Vedanta’s cash and cash equivalents position remained healthy in Q3 FY23 at Rs 23,474 crore, as it follows an investment policy approved by the Board and invests in high quality debt instruments.

The company maintained its investment grade credit rating of ‘AA’ with stable outlook by CRISIL (NS: CRSL ) and India Ratings.

Read Also: Vedanta Declares 4th Interim Dividend of 1,250%: Highest Yield Among Peers

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search

Related Articles