By Malvika Gurung
Investing.com -- The metals and mining group Vedanta (NS: VDAN ) posted a 26.7% YoY surge in net profit at Rs 5,354 crore for the December-ending quarter, exceeding the Street’s estimate at Rs 5,102 crore.
The company’s revenue from operations zoomed 50% from Rs 22,735 crore reported in Q3 FY21 to Rs 34,097 crore reported in December 2021 ending quarter.
Vedanta’s earnings exceeded the analysts’ expectations in Q3, backed by increased operational efficiencies and higher price of commodities despite headwinds of increased input costs.
The mining major’s EBITDA climbed 2% in Q3, led by improved commodity prices. However, due to a major offset posed by inflation in the input commodity prices, the company’s EBITDA margin declined 1% YoY to 37% in Q3.
Its gross debt reduced almost Rs 10,000 crore YoY to Rs 52,783 and net debt declined over Rs 7,000 crore YoY to Rs 27,576 crore in the quarter under review.
Due to increased depletion charge at oil & gas, capitalization at aluminium and zinc India business, the company’s depreciation and amortisation for Q3 climbed 19% YoY to Rs 2,274 crore.
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