Vedanta Ltd Soars with 13% Profit Surge Amidst Market Volatility

Vedanta Ltd on Thursday announced a significant rise in its financial performance, with a 13% increase in consolidated adjusted profit after tax to Rs 5,000 crore in the June quarter. This uplift was driven by higher revenues, marking a profit jump from Rs 4,433 crore in the same period of the previous fiscal year.

The company's revenues surged to Rs 37,434 crore, while expenses were reported at Rs 32,756 crore, fostering the highest-ever first quarter EBITDA of Rs 10,746 crore. Despite global market volatility, Vedanta achieved operational milestones including the lowest hot metal cost in recent quarters and substantial growth in power sales and Ferro Chrome volumes.

In a forward-looking statement, Chairman Anil Agarwal highlighted upcoming projects expected to drive performance further. These include the commissioning of new thermal power capacity and mining operations. Vedanta's strategic corporate moves have also strengthened financial metrics, reducing the net debt-to-EBITDA ratio and overall debt costs.

(With inputs from agencies.)