Vedanta Q3 Results

Vedanta, the natural resources major, once again posted a good show helped by firm base metal prices and rebound in crude oil prices. The December quarter (Q3) performance was no different with growth boosted by aluminium, zinc, power and oil & gas segments. Even as iron ore and copper performance remained soft and currency appreciation partially offset the benefits, Vedanta's net sales at Rs 243.6 billion, up 19 per cent year-on-year and 13 per cent sequentially, came better than Bloomberg consensus estimates of Rs 236 billion. Earnings before interest, tax, depreciation and amortisation (Ebitda) at Rs 67.80 billion, too, improved 13 per cent year-on-year and 17 per cent sequentially, coming ahead of estimates of Rs 66.28 billion. The impact of rising coal prices was evident as power and fuel costs increased by a sharp 44 per cent year-on-year, pulling down Ebitda margins to 35 per cent versus 39 per cent seen in the year ago quarter. Sequentially however, the number remained ...