News Karnataka
Friday, September 17 2021

Business

Vedanta’s consolidated Q1FY22 net profit zooms to Rs 4,280 cr

New Delhi: Natural resources company Vedanta’s consolidated net profit for the quarter ended June 30 of the current financial year (2021-22) rose exponentially on a year-on-year basis.

The consolidated net profit after taxes, non-controlling interests and share in the profit of jointly controlled entities and associates but before exceptional items rose to Rs 4,280 crore.

Vedanta had reported Rs 1,033 crore during the same period of the previous financial year.

Besides, the profits attributable to owners of Vedanta rose to Rs 4,224 crore from Rs 1,033 crore reported for Q1FY21.

The company’s Net Debt also came down to Rs 20,261 crore from Rs 6,989 crore.

CEO Sunil Duggal said: “We are happy to announce another strong quarter with continued momentum across all businesses. Our consolidated revenue was up 79 per cent y-o-y at Rs 28,105 crore and attributable profit after tax (before exceptional items) up 314 per cent y-o-y at Rs 4,280 crore.”

“We delivered record operational performance, maintaining the trajectory of cost and volumes, driven by structural integration and technology adoption. Despite the uncertain market conditions, we have continued with our winning streak by reporting the highest ever quarterly EBITDA of Rs 10,032 crore, up 150 per cent y-o-y.”

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