Vedanta Q4 PAT at ~6,432 cr

Anil Agarwal-led Vedanta Limited reported a consolidated net profit of ~6,432 crore in the March quarter against a loss of ~12,521 crore in the corresponding period last year on the back of increased sales.

Net sales of the company stood at ~27,874 crore in the period under review, up 43 per cent from the same period last year.

According to Bloomberg estimates, the company’s top line was seen at ~24,969 crore in the March quarter, while the bottom line was expected to be ~5,360 crore.

For the quarter gone by, the exceptional items of ~773 crore largely comprise of write-off on account of its aluminium business (~181 crore), provision of ~213 crore on advances given to Konkola Copper Mines (KCM, which is majority owned by Vedanta Resources), and provision for settlement of dispute regarding environmental clearance (~213 crore).

This was, however, far lower than the ~17,132 crore write-off taken mainly on the oil & gas business in the corresponding period last year.

It was owing to the large write-off taken last year that the company incurred a loss.

Profit before exceptional items and tax stood at ~6,516 crore for Q4'FY21 as compared to ~1,863 crore in the yearago quarter.

Meanwhile, the earnings before interest, taxes, depreciation and ammortisation (Ebitda) in the March quarter jumped 88 per cent to ~9,107 crore, its highest-ever, with Ebitda margin expanding to 38 per cent from 28 per cent last year.

Finance cost for Q4 of FY21 was higher 24 per cent year-on-year (YOY), primarily due to lower interest capitalisation. “We have robust cash and cash equivalents of ~32,614 crore,” said the company in its release.

Gross debt was at ~57,028 crore on March 31, 2021, lower by ~2,159 crore YOY. This was mainly due to repayment of debt at its aluminum and zinc business.