Vedanta share price: Vedanta Ltd recorded a consolidated net loss of Rs 1,783 crore on Saturday, compared to a profit of Rs 2,640 crore a quarter earlier and Rs 1,808 crore a year ago.
SUMMARY
- Vedanta Ltd reported a net loss of Rs 1,783 crore in the third quarter ended September.
- Consolidated revenue from operations increased 6.3% year on year (YoY) to Rs 38,945 crore.
- Vedanta Ltd previously stated that it intends to divide its commodities businesses into six publicly traded companies.
According to an exchange filing on Saturday, mining firm Vedanta Ltd. posted a net loss of Rs 1,783 crore in the quarter ended September. Consolidated revenue from operations increased 6.3% year on year (YoY) to Rs 38,945 crore. The deficit compares to a profit of Rs 1,808 crore in the previous year and is mostly due to net tax expenses as a result of the implementation of a new tax rate.
Due to expected corporate actions and other considerations, the company elected to adopt the New Tax Regime in the quarter ended September 30, and the first tax return under the New Tax Regime will be filed for FY 2022–23 on or before the due date of November 30, 2023, according to the filings.
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Anil Agarwal’s billionaire control it is a multinational conglomerate of natural resources and technology with operations in India, South Africa, Liberia, and Namibia. Its operations include, among other things, oil and gas, zinc, lead, silver, aluminum, iron ore, steel, and copper.
““I am pleased to share that we have a quarter of highest ever 2Q turnover of Rs 38,546 crores with highest ever 2Q EBITDA of Rs 11,834 crores on the back of strong operational volume delivery and aggressive cost reduction across the table in all businesses,” said Arun Misra, Executive Director, Vedanta.
“While excelling in operational performance, we have also achieved a 5-point improvement year over year in this year’s S&P Global Corporate Sustainability Assessment Index. We remain well positioned, with a rich, diversified asset portfolio, a strong balance sheet, and cost optimization levers, to withstand a challenging macroeconomic environment,” he added.
Vedanta Ltd. previously stated that it intends to split its commodities businesses into six publicly traded companies “to unlock value and attract big-ticket investment into the expansion and growth of each of the businesses.”
Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals, and Vedanta Limited would be the six listed firms. Agarwal stated in an exclusive interview with Business Today TV that the shareholders will have a lot of flexibility following the demerger.
Agarwal stated on the proposed demerger, “My vision is that each company after the demerger will be the size of It .” Shareholders will now get one share of each of the newly listed firms in exchange for one share of the existing listed Vedanta Ltd. The shareholder will have a number of options. Each of the six companies will have its own CEO. These CEOs will have a share in the company as well. The businesses should be controlled by the greatest professionals.”
Frequently asked questions
What is the result of Vedanta in June?
Financials
| Quarterly Results of Vedanta (in Rs. Cr.) | Jun ’23 | Jun ’22 |
|---|---|---|
| Other Income | 107.00 | 174.00 |
| P/L Before Int., Excpt. Items & Tax | 1,026.00 | 2,198.00 |
| Interest | 1,335.00 | 858.00 |
| P/L Before Exceptional Items & Tax | -309.00 | 1,340.00 |
What is the earnings per share of Vedanta?
Vedanta’s key metrics are as follows: It’s PE ratio is 9.42. It’s earnings per share are 23.65. Vedanta’s price/sales ratio is 0.69.
What is the result of Vedanta Q1 2024?
The company’s income from operations for the first quarter of 2024 was Rs 33,342 crore, compared to Rs 38,251 crore in the previous year’s first quarter. On Friday, It reported financial results for the first quarter of 2024, declaring a consolidated profit after tax of Rs 4,086 crore.
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