NEW DELHI: Billionaire Anil Agarwal-led Vedanta Ltd. reported four per cent decline in net profit at Rs 2,053 crore for the quarter ended December 31 as against Rs 2,133 crore in the same quarter of last year.
The company incurred a one-time charge of Rs 158 crore in the quarter related to the arbitration of a historical vendor claim in the aluminium business and acquisition-related cost of AvanStrate Inc (ASI).
The one-time charge could have impacted its bottom line for the quarter. Revenue rose 19 percent to Rs 24,361 crore as compared to the same quarter.
At the operational level, the company posted 15 percent rise in earnings before interest, tax, depreciation and amortisation (Ebitda) at Rs 6,763 crore against Rs 5,867 crore year-on-year. Meanwhile, the operating margin is reported at 27.8 percent against 30.2 percent year on year.
Kuldip Kaura, Chief Executive Officer, Vedanta Ltd, said, “We delivered a robust quarter with our Ebitda margin remaining strong. Our ramp-up plans across our well-invested assets are on track. We maintain a strong balance sheet and are committed to our capital allocation framework.”
He added the company is looking forward to a strong Q4 which will help them finish the year with healthy cash generation.