Vedanta Reports Flat Growth In Profit at ₹2,173 Crore In Q3
Vedanta has reported a marginal 1 percent year-on-year (YoY) rise in profit after tax (PAT) at ₹2,173 crore for December quarter. On sequential basis, profit growth came in at 7 percent, the company said in a BSE filing.
The company had reported ₹2,148 crore profit in the corresponding quarter in the previous fiscal.
Revenue for the quarter rose 19 percent YoY to ₹24,361 crore. Ebitda margin came in at 35 percent.
The company has reported strong free cash flow of ₹4,662 crore in the first nine months of the financial year. During the period, the company managed to cut gross debt reduced by ₹11,450 crore. Gross debt stood at ₹55,218 crore as on December 31, 2017.
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Steel's Net Zero mission
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Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales
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Seaborne coking coal offers remain range-bound
Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.
Global crude steel output down 8% in September
China manufactured 74 mt in September, fall of 21% y-o-y while India’s production went up by 7% to 10 mt.
MOIL embarks on expansion projects
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The 12 major Indian ports handled 27 mt of iron-ore during H1 of 2021, down by 17% from 33 mt recorded for the corresponding period of previous year.
Shrinking China output to boost India exports
“In the third quarter of 2021, the company actively responded to the pressure from external policies, such as production curtailment and dual control system on energy consumption and intensity, as well as coal resource shortage and surging prices.” Baoshan Iron and Steel Co Ltd
Indian Railways' iron-ore handling up 25% in H1
Indian Railways in April-September of 2021 (H1) transported 84 mt of iron ore, up by 25% over 67 mt during April-September 2020.
September crude steel production up 7.2% y-o-y
India’s crude steel production in September 2021 grew 7.2 percent to 9.547 million tons (mt) over September 2020 but was down by 3.2 percent from August 2021 output, provisional steel ministry data showed.
“Five enablers: way forward to sustainable cleaner steel”
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