Quarterly Results: Vedanta Ltd
Bhagyashree Vivarekar / 28 Oct 2016
Vedanta’s Q2FY17 consolidated numbers have come in higher than was expected by the street. Revenue has come in 8.1% higher than the estimated Rs 15,519 cr. EBITDA is 13.4% above the estimated figure of 4,117 cr. Also, the company has reported a net profit that was 34.6% higher than the Rs 930 cr estimate.
***EBITDA margin change is bps
Vedanta’s Q2FY17 consolidated numbers have come in higher than was expected by the street. Revenue has come in 8.1% higher than the estimated Rs 15,519 cr. EBITDA is 13.4% above the estimated figure of 4,117 cr. Also, the company has reported a net profit that was 34.6% higher than the Rs 930 cr estimate.
The consolidated net revenue for the quarter has come in at Rs 16,778 cr, which was lower by 4.3% yoy. This was due to a 9% yoy decline in revenues from Oil & Gas segment and a 14% yoy decline in domestic zinc and lead revenues.
Reported EBITDA has risen by 8.5% yoy to Rs 4,668 cr and EBITDA margins have improved by 328 bps yoy to 27.82%. This was primarily driven by an 8% decline in operating expenses.
Net profit has risen 11.9% yoy to Rs 1,252 cr.
Technical View:
Vedanta Ltd., is currently trading at Rs. 202.2, up by 2.85 points or 1.43% from its previous closing of Rs. 199.35 on the BSE.
The scrip opened at Rs. 200.9 and has touched a high and low of Rs. 204.1 and Rs. 198.55 respectively. So far 14066719(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.