Vedanta Limited on Saturday announced the unaudited consolidated Results for the Second Quarter and half year ended 30th September 2023, the company announced through an exchange filing.
Financial Highlights
Vedanta Limited has reported its highest-ever consolidated revenue for the second quarter, totaling Rs 38,546 crore, marking a significant 16% increase quarter-on-quarter (q-o-q).
The company achieved its highest-ever second-quarter consolidated EBITDA, reaching Rs 11,834 crore, a remarkable 70% q-o-q growth, accompanied by a margin of 35%.
Furthermore, Vedanta Limited recorded a profit after tax (PAT) of Rs 4,403 crore before exceptional items, a substantial threefold increase q-o-q. The company's robust performance is reflected in its generation of strong free cash flow (pre-capital expenditure), amounting to Rs 5,694 crore in the second quarter of FY24, representing an impressive 84% q-o-q increase.
Moreover, Vedanta reported a strong double-digit return on capital employed, standing at approximately 21%, signifying an impressive rise of around 462 basis points q-o-q. The company also achieved a noteworthy reduction in its net debt by Rs 1,420 crore q-o-q, resulting in a net debt of Rs 57,771 crore as of September 30, 2023.
Furthermore, Vedanta Limited has significantly improved its Net Debt/EBITDA ratio, which now stands at 1.64x, compared to 1.88x in the first quarter of FY24. The company's contributions to the exchequer for the first half of FY24 amounted to Rs 26,358 crore, underscoring its strong financial performance and positive impact on the economy.
Arun Misra, Executive Director, Vedanta, said “I am pleased to share that we have a quarter of highest ever 2Q turnover of ₹38,546 crores with highest ever 2Q EBITDA of ₹11,834 crores on the back of strong operational volume delivery and aggressive cost reduction across the table in all businesses. While excelling in operational performance we have also achieved a 5 point improvement y-o-y in this year’s S&P Global Corporate Sustainability Assessment Index. Strong believer of expanding our portfolio, we are steadfast in our growth journey and are progressing well in all growth projects announced so far with capex worth ~8.4 Bn$"
Vedanta Limited shares
The shares of Vedanta Limited on Friday at 3:30 pm IST closed at Rs 232.20, up by 1.33 percent.
