VEDANTA Announces Quarterly Results (3QFY21); Net Profit Up 58.5%

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VEDANTA Announces Quarterly Results (3QFY21); Net Profit Up 58.5%
Mon, 1 Feb

VEDANTA has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

VEDANTA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m213,600208,040224,9808.1%5.3%
Other incomeRs m6,4706,37011,23076.3%73.6%
TurnoverRs m220,070214,410236,21010.2%7.3%
ExpensesRs m148,460145,760149,7802.8%0.9%
Gross profitRs m66,82066,26075,20013.5%12.5%
DepreciationRs m22,91019,38019,120-1.3%-16.5%
InterestRs m12,32013,12013,2100.7%7.2%
Profit before taxRs m38,06040,13054,10034.8%42.1%
TaxRs m11,41023,69011,860-49.9%3.9%
Profit after taxRs m26,65016,44042,240156.9%58.5%
Gross profit margin%31.331.833.4
Effective tax rate%30.059.021.9
Net profit margin%12.17.717.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 5.3% on a year-on-year (YoY) basis. The expenses were up by 0.9% YoY during the same period.
  • The company's operating profit increased by 12.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.4% in 3QFY21 as against 31.3% in 3QFY20.
  • Depreciation charges declined by 16.5% and finance costs increased by 7.2% YoY, respectively.
  • Other income increased by 73.6% YoY during the quarter.
  • Net profit for the quarter increased by 58.5% YoY. Net profit margins during the quarter increased from 12.1% in 3QFY20 to 17.9% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 8.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.8% QoQ during the same period.
  • The company's operating profit increased by 13.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.4% in 3QFY21 as against 31.8% in 2QFY20.
  • Net profit for the quarter increased by 156.9% QoQ, while net profit margins increased from 7.7% in 2QFY20 to 17.9% in 3QFY21.

To see how VEDANTA has performed over the last eight quarters,please visit here.

Learn: How to Potentially Accumulate Rs 7 Crore in Wealth Over the Long-term

VEDANTA Share Price Performance

Over the last one year, VEDANTA share price has moved up from Rs 135.1 to Rs 170.6, registering a Gain of Rs 35.6 or around 26.3%.

Overall, the S&P BSE SENSEX is up 18.6% over the year.

Current Valuations

At the current price of Rs 170.6, the price to book value (P/BV) ratio of VEDANTA stands at 0.9 times.

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