Vedanta Ltd's Resilient Performance Amid Profit Decline

Vedanta Ltd reported a significant 37.9% decline in profit post-tax due to an exceptional item outgo, despite an increase in total income during the September quarter. The company's resilience was highlighted by an 8% EBITDA growth and progress on various new projects.

Anil Agarwal's Vedanta Ltd announced a 37.9% decline in its consolidated profit after tax, dropping to Rs 3,479 crore for the September quarter, primarily due to an ''exceptional item outgo.''

In comparison, the company had posted a consolidated profit of Rs 5,603 crore during the same period last year, even as total income rose to Rs 40,464 crore from Rs 38,934 crore in the corresponding quarter of the previous fiscal year, according to a regulatory filing. The profit after tax was notably affected by an outgo of Rs 2,067 crore in the second quarter.

Vedanta Executive Director Arun Misra emphasized the company's resilience, highlighting an 8% year-on-year EBITDA growth amidst market uncertainties. The company marked significant progress on new projects, such as commissioning 1.3 GW of power plant capacity and initiating production from new facilities.

(With inputs from agencies.)