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Mining conglomerate Vedanta Ltd on Thursday reported an 18.3 per cent drop in consolidated web revenue to Rs 2,013 crore within the third quarter ended December 2023 because of a spike in finance and uncooked supplies value amid muted gross sales. The corporate had posted a consolidated web revenue of Rs 2,464 crore within the year-ago interval, in accordance with a regulatory submitting.
Vedanta Chief Monetary Officer Ajay Goel advised PTI that on a sequential foundation, the December quarter was top-of-the-line quarters for the corporate. “At the beginning, the EBITDA for the quarter is Rs 8,677 crore. It’s 21 per increased over quarter on quarter,” he defined.
He additional mentioned that within the present quarter, the corporate’s PAT earlier than distinctive gadgets is Rs 8,268 crore which is 112 per cent increased than within the earlier quarter.
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The corporate’s consolidated revenue within the third quarter of the present fiscal elevated to Rs 36,320 crore from Rs 34,818 crore in the identical interval a yr in the past.
Throughout the October-December quarter of the present fiscal, Vedanta’s finance value was Rs 2,417 crore, which is 53.7 per cent increased than Rs 1,572 crore clocked within the year-ago interval. The price of materials consumed within the third quarter elevated to Rs 11,744 crore, over Rs 11,245 crore within the year-ago interval.
Vedanta Govt Director Arun Misra mentioned that the corporate’s strategic give attention to substantial value compression, paralleled by a powerful manufacturing ramp-up throughout companies has helped it to ship exceptional efficiency.
As of December 31, 2023, the corporate’s gross debt stood at Rs 75,227 crore. Vedanta, a subsidiary of Vedanta Sources Ltd, is a diversified world pure sources firm.
(This report has been revealed as a part of an auto-generated syndicate wire feed. Aside from the headline, no modifying has been executed within the copy by ABP Reside.)
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