The Vedanta Q4 profit rise
On this Thursday that is on 3rd of May 2018 Vedanta reported a rise of 81 percent. After exceptional items, it consolidated profit at Rs 4,802 crore. This amount is for the quarter of March. This was way ahead of the expected analysts. The expectations were of Rs 2,601 crore in an ET Now poll.
The Vedanta Q4 profit rise is an unexpected one when compared to the expectations. According to the miner, there was a profit of Rs 2,647 crore. This was a profit on the same quarter of the last year. The profit was for a one-time exceptional game.
The one time exceptional gain was of Rs 2,869 crore. A revision of previously recorded impairment showed this. The impairment was of Rs 7,016 crore. This was in the gas and oil business of the company.
Statement by the company after the Vedanta Q4 profit rise
According to the verdict of the company, they are seeing the progress. The progress is for the key of the growth projects. According to the expectations, this will result in something good for the company. The result will enhance the recovery of resources.
The gains were partially offset. It was offset by the iron ore Goa assets. The assets were of Rs 2,329 crore. This was due to the suspension of the mining operations. The suspension was from 16th of March 2018.
There was also a reclassification of FCTR. FCTR relates to some of the subsidiary investment companies. The subsidiary investment companies must be under liquidation of Rs 1,485 crore.
Consolidation of the revenue
There was a consolidation of the revenue for the quarter. The consolidation took a rise of 17 percent to Rs 27,630 crore. This was higher from that of the aluminium, oil and gas and domestic copper business.
This also increased the prices of the commodity. Meanwhile, the offset of numbers was in a partial manner. The offset by lower volume and currency appreciation was at the domestic zinc business. The ease of 28.3 percent was quarterly for the Ebitda margin. This was 32.7 percent in the previous year.
It was lower by 30 basis points. It was lower than 28.6 percent of projection in the ET Now poll by the analysts. So the Vedanta Q4 profit rise is of a great importance and is holding a good rank.