Vedanta reports 14% rise in Q3 net profit at ₹2665 crore
Mumbai: Metals and mining major Vedanta Ltd on Friday reported a net profit of ₹2665 crore in December quarter, up 14% from ₹2,332 in the same period a year-ago. Company’s revenue from operations fell 10% year-on-year (YoY) to ₹21,126 crore, from ₹23,435 crore in the previous year.
In the quarter ended 31 December, Vedanta reported EBITDA of ₹6,531 crore, up 10% from the previous year. EBITDA margin improved to 34% in Q3FY20 from 29% last year.
The company’s Q3 revenues were subdued because of the lower commodity prices and muted sales volumes in zinc, oil and gas and copper business. Finance costs for the quarter stood at ₹1,232 crore, 9% lower from the previous year, mainly due to the repayment of high-cost debt and a fall in general interest rates.
