Street may ignore Vedanta's Q2 profit miss

Rising volumes and robust realisations will drive growth in most segments

Vedanta’s performance in the September quarter (Q2) was supported by growing volumes in the zinc, copper and aluminium segments and rising base metal prices. But, the benefits were partially mitigated by lower oil and gas volumes, currency appreciation and an increase in the cost of production of aluminium.

While the mining major reported impressive sales, Ebitda (earnings before interest, tax, depreciation and amortisation) and net profit year-on-year (y-o-y) growth of 37 per cent, 24 per cent and 41 per cent, respectively, profitability was a tad lower than the estimates.  Revenues at Rs 21,590 crore were three per cent higher than