InvestorQ : What are the latest quarterly results of Vedanta looking like?
Ria Jain made post

What are the latest quarterly results of Vedanta looking like?

Answer
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diksha shah answered.
3 weeks ago


The Anil Agarwal owned Vedanta India Ltd posted a 23.5% drop in net profits at Rs.1033 crore for the Jun-20 quarter. During the same period, the total sales of the company fell by 25.9% to Rs.15,687 crore as the global commodity crunch took its toll.

Vedanta has emerged globally as one of the largest players in the mining and minerals space with interests in zinc, aluminium, copper and hydrocarbons. Its core businesses of oil and minerals have been badly hit by the slump in demand due to the Coronavirus pandemic.

It may be recollected that Vedanta Resources PLC, the holding company that owns 51% in Vedanta India, is in the midst of delisting Vedanta India. Towards this effort, Vedanta Resources and raised $3.3 billion and needs to scale up its war chest to $4 billion.

Vedanta carries net debt of Rs.24,787 crore on its book as of Mar-20. The stock of Vedanta Ltd has rallied sharply by more than 60% in the Indian market on expectations of a higher delisting price. It is also a stock with an attractive dividend yield.