Vedanta Q4 profit slumps 46% YoY to Rs 2,615 crore, still beats Street estimates
NEW DELHI: Vedanta on Tuesday reported a 45.54 per cent drop in profit at Rs 2,615 crore (attributable to shareholders), which was better than Rs 1,532 crore estimated by analysts at an ET NOW poll.
The Anil Agarwal-led company had reported Rs 4,802 crore profit in the year-ago period.
Revenue fell 15.44 per cent YoY to Rs 23,092 crore from Rs 27,311 crore YoY. The figure was down 1 per cent sequentially on lower commodity prices, rupee appreciation and lower volume at Aluminium and Zinc India business that was partially offset by higher sales volume at ESL, Zinc International and Iron ore Karnataka.
Ebitda margins for the quarter dropped 600 basis points to 31 per cent from 37 per cent in the year-ago period.
The company's gross debt stood at Rs 66,225 crore as on March 31 over Rs 8,066 crore inRead More – Source