Vedanta stock slips over dip in commodity prices despite in-line Q2 show

Soft prices of commodities including metals is weighing on investor sentiment

Vedanta
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The net debt increased by Rs 5,300 crore to Rs 32,100 crore from Rs 25,800 crore (Q1-end). In the first half of 2022-23, the net debt has increased by Rs 11,100 crore

Devangshu Datta New Delhi
Metals and mining resources player Vedanta declared results that were more or less in line with expectations. However, given the fall in commodity prices the results were considered disappointing by most investors and the stock was sold down.

The consolidated net sales stood at Rs 36,600 crore (YoY up 21 per cent but down 5 per cent QoQ). This was due to higher sales volume, as well hedging gains, and foreign exchange gains, despite lower commodity prices. The consolidated EBITDA was Rs 7,700 crore, down 26 per cent YoY and down 24 per cent QoQ. Aluminium was the worst performer

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First Published: Oct 31 2022 | 8:07 PM IST

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