Companies

Higher cost, lower realisation pull Vedanta’s net down 21%

Our Bureau Mumbai | Updated on January 31, 2019 Published on January 31, 2019

Billionaire Anil Agarwal-owned Vedanta reported 21 per cent fall in December quarter net profit at ₹1,574 crore against ₹1,994 crore due to higher cost and lower realisation across business.

Net sales were down three per cent at ₹23,669 crore (₹24,361 crore) due to shut-down of copper smelter at Thoothukudi and lower commodity prices, partially offset by currency depreciation and higher volumes at electrosteel and aluminium business.

Earnings before interest, tax, depreciation and amortisation were down at ₹5,953 crore (₹6,677 crore). Finance cost of the company was up 21 per cent at ₹1,358 crore (₹1,125 crore) due to higher borrowings and increase in interest rates.

The company’s net debt stood at ₹39,531 crore and cash reserve at ₹30,530 crore as of December-end.

Published on January 31, 2019
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