Vedanta profit surges 37% to Rs 3,606 crore on better margins

NEW DELHI: Vedanta Ltd on Tuesday reported a 36.5%increase in consolidated net profit at Rs 3,606 crore for the quarter ended June 30, 2024, due to improved margins and robust cost reduction across all operations.

It had posted a net profit of Rs 2,640 crore in the year-ago period. The consolidated income of the company in the April-June period rose to Rs 36,698 crore over Rs 34,279 crore in the year-ago period, according to an exchange filing. Vedanta said in a statement that the proposed demerger of its businesses is on track and it has already filed the demerger scheme with NCLT after getting a nod from secured creditors.

Vedanta’s earlier announced to split into six independent listed companies, including oil and gas and aluminium.

Vedanta Ltd executive director Arun Misra said the company has delivered a strong start to the year, with exceptional EBITDA improvement of 47 per cent and PAT improvement by 54 per cent year-over-year on the back of improved margins, and robust cost reduction across all operations.