Higher volumes, commodity prices drive Vedanta's Q3 net sales higher

Vedanta's prospects remain strong on the back of strength in metal and crude oil prices

Vedanta, the natural resources major, once again posted a good show helped by firm base metal prices and rebound in crude oil prices. The December quarter (Q3) performance was no different with growth boosted by aluminium, zinc, power and oil & gas segments. Even as iron ore and copper performance remained soft and currency appreciation partially offset the benefits, Vedanta's net sales at Rs 243.6 billion, up 19 per cent year-on-year and 13 per cent sequentially, came better than Bloomberg consensus estimates of Rs 236 billion.

Earnings before interest, tax, depreciation and amortisation (Ebitda) at Rs 67.80 billion, too, improved 13