India Energy Week | Vedanta's Anil Agarwal outlines vision for 2024
Anil Agarwal, Chairman of Vedanta spoke to CNBC-TV18 from the sidelines of the India Energy Week that started in Goa on February 6. He discussed the outlook on revenue, profits, capex, and debt for the coming year.
Anil Agarwal, Chairman of Mumbai-headquartered multinational mining company, Vedanta. spoke to CNBC-TV18 from the sidelines of the India Energy Week, which kick-started in Goa on February 6.
Sharing his vision for the company, Agarwal said, "in the coming year, we'll have a revenue of about $30 billion. We'll have about $7.5 billion profit, the total debt in the company will be $12 billion or $11 billion."
He also talked about plans to increase production of various products such as oil and gas, zinc, silver, copper, iron ore, and aluminium, by nearly 30% in current calendar year.
The company mainly operates in iron ore, gold and aluminium mines in Goa, Karnataka, Rajasthan and Odisha.
In the third quarter of the current financial year (Q3FY24), Vedanta reported a 7% year-on-year (YoY) decline in net profit to ₹2,868 crore from ₹3,092 crore. However, the profit tripled from ₹915 crore reported in the second quarter (Q2FY24).
The total revenue of the company in Q3 rose 4% to ₹34,968 crore, driven by higher sales volume, premia and favorable movement in exchange rate which is partially offset by decrease in commodity prices. The revenue was ₹33,691 crore in the previous year quarter.
The company has a market capitalisation of ₹1,05,141 crore.
For more, watch the accompanying video
(Edited by : Shweta Mungre)
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