Vedanta Q3FY22 Results: PAT surges 27%, revenue grew 50% YoY

Metal major Vedanta on Friday reported robust third-quarter earnings for the financial year 2021-22 (Q3FY22). The company’s topline and bottom line grew in double-digit numbers year-on-year (YoY). 

As per the filing, the company’s consolidated attributable PAT (profit after tax) grew by 27 per cent in Q3FY22 to Rs 4,189 crore as against Rs 3299 crore in a year ago quarter. The revenue surged by 50 per cent to Rs 33,697 crore in Q3FY22 versus Rs 22498 crore in Q3FY21. 

See Zee Business Live TV Streaming Below:

The company reported highest ever quarterly EBITDA (earnings before interest, taxes, depreciation, and amortization) of the company came at Rs 10,938 crore, up 42 per cent YoY, it said in filing. 

In the management commentary, Sunil Duggal, Chief Executive Officer of Vedanta said, the company sustained margins benefitting from operational efficiencies and high commodity prices despite input commodity headwinds. 

He added, “Q3 played a big part in it with highest ever quarterly production from Hindustan Zinc, Aluminium and Vedanta-ESL. We reduced net debt by Rs 7,781 crore YoY while maintaining net debt/EBITDA at low level of 0.7x.” 

In operational terms, the company made a double-digit growth across other business segments, sustained production at Oil and leveraged portfolio with acquisition of NICOMET, became the sole producer of Nickel in India.