Vedanta rose 1.48% to Rs 202.30 at 14:28 IST on BSE after consolidated net profit rose 17% to Rs 1252 crore on 4% decline in net sales to Rs 15666 crore in Q2 September 2016 over Q2 September 2015.
Meanwhile, the BSE Sensex was up 68.33 points, or 0.24%, to 27,984.23.
On BSE, so far 8.01 lakh shares were traded in the counter, compared with average daily volume of 10.65 lakh shares in the past one quarter. The stock hit a high of Rs 204.10 and a low of Rs 198.55 so far during the day. The stock hit a 52-week high of Rs 208 on 21 October 2016. The stock hit a 52-week low of Rs 58.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 27 October 2016, rising 14.14% compared with 1.33% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 21.11% as against Sensex's 0.48% decline.
The large-cap company has equity capital of Rs 296.47 crore. Face value per share is Re 1.
Vedanta's consolidated attributable profit after tax before exceptional items rose 12% to Rs 1252 crore on 4% decline in net sales to Rs 15666 crore in Q2 September 2016 over Q2 September 2015.
Revenues declined in Q2 September 2016 over Q2 September 2015, on account of lower oil and copper prices, lower volumes at Zinc and Cairn India, partially offset by ramp-ups in volume from the Power business.
Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 8% to Rs 4640 crore in Q2 September 2016 over Q2 September 2015. EBITDA rose on account of higher metal prices, improved cost efficiencies at aluminium business, lower discount to Brent, ramp up of volumes in the power business, partially offset by lower volumes from Zinc India as per the mine plans and lower oil prices.
EBITDA margin was reported at 39% in Q2 September 2016, higher than 34% in Q2 September 2015.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia and Ireland.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
