Vedanta sees QoQ fall in profit and revenue; stock ends in the green

Vedanta's consolidated net debt stood at Rs 26,799 crore in the June quarter, against Rs 24,414 crore for the quarter ended March 2022

Metals and mining major Vedanta reported a consolidated net profit of Rs 4,421 crore for the June 2022 quarter, up 4.66 per cent year-on-year (YoY). But this was lower than Street estimates, which came in at Rs 4,572 crore, according to Bloomberg. Sequentially, Vedanta's net profit declined 23.7 per cent from Rs 5,799 crore.

The company’s consolidated revenue for Q1 came in at Rs 38,251 crore, rising 36.10 per cent YoY, supported by higher sales volume across businesses, commodity prices, and strategic hedging gains. Bloomberg consensus estimates had pegged revenue at Rs 37,698 crore. But sequentially, revenue declined 3 per cent