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New Delhi, Mining conglomerate <keyword id="19919724" type="General" weightage="20" keywordseo="vedanta-ltd" source="keywords">Vedanta Ltd</keyword> on Thursday reported an 18.3 per cent drop in consolidated net profit to Rs 2,013 crore in the third quarter ended December 2023 due to a spike in finance and raw materials cost amid muted sales. The company had posted a consolidated net profit of Rs 2,464 crore in the year-ago period, according to a regulatory filing. <keyword id="19919721" type="General" weightage="20" keywordseo="vedanta" source="keywords">Vedanta</keyword> Chief Financial Officer <keyword id="20335301" type="General" weightage="20" keywordseo="ajay-goel" source="keywords">Ajay Goel</keyword> told PTI that on a sequential basis, the December quarter was one of the best quarters for the company. "First and foremost, the EBITDA for the quarter is Rs 8,677 crore. It is 21 per higher over quarter on quarter," he explained. He further said that in the current quarter, the company's PAT before exceptional items is Rs 8,268 crore which is 112 per cent higher than in the previous quarter. The company's consolidated income in the third quarter of the current fiscal increased to Rs 36,320 crore from Rs 34,818 crore in the same period a year ago. During the October-December quarter of the current fiscal, Vedanta's finance cost was Rs 2,417 crore, which is 53.7 per cent higher than Rs 1,572 crore clocked in the year-ago period. The cost of material consumed in the third quarter increased to Rs 11,744 crore, over Rs 11,245 crore in the year-ago period. Vedanta Executive Director <keyword id="20256743" type="General" weightage="20" keywordseo="arun-misra" source="keywords">Arun Misra</keyword> said that the company's strategic focus on substantial cost compression, paralleled by an impressive production ramp-up across businesses has helped it to deliver remarkable performance. As of December 31, 2023, the company's gross debt stood at Rs 75,227 crore. Vedanta, a subsidiary of <keyword id="20169200" type="General" weightage="20" keywordseo="vedanta-resources-ltd" source="keywords">Vedanta Resources Ltd</keyword>, is a diversified global natural resources company.

Vedanta's Q3 profit drops 18% on higher finance, raw material cost

<keyword id="3057650" type="General" weightage="20" keywordseo="former-bureaucrat" source="Orion">Former bureaucrat</keyword> Arun Goel, assumed charge as the <keyword id="15572178" type="General" weightage="20" keywordseo="new-election-commissioner-of-india" source="Orion">new Election Commissioner of India</keyword> on Monday. Arun Goel a former <keyword id="15572177" type="General" weightage="20" keywordseo="ias-officer-of-the-punjab-cadre" source="Orion">IAS officer of the Punjab cadre</keyword>, was on Saturday appointed as Election Commissioner. The Minister of Law and Justice on Saturday notified the appointment made by President Droupadi Murmu. "The President is pleased to appoint Arun Goel, IAS (Retd.) (PB: 1985) as the Election Commissioner in the Election Commission with effect from the date he assumes the office," it said. Arun Goel had on Friday taken voluntary retirement from the post of Secretary, Heavy Industries. He will join Chief Election Commissioner Rajiv Kumar and Election Commissioner Anup Chandra Pandey in the Election Commission. Sushil Chandra retired as Chief Election Commissioner in May this year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/rbi-report-flags-large-scale-variation-in-property-tax-collection-across-civic-bodies/articleshow/95636789.cms" style="">RBI report flags large-scale variation in property tax collection across civic bodies</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/india-on-course-to-become-worlds-second-largest-economy-by-2050-says-gautam-adani/articleshow/95622223.cms" style="">India on course to become world’s second largest economy by 2050, says Gautam Adani</a>

Former bureaucrat Arun Goel assumes charge as new Election Commissioner

The Supreme Court asked the Centre on Wednesday to produce before it the file related to the appointment of <keyword id="6359191" type="General" weightage="80" keywordseo="election" source="Orion">Election</keyword> Commissioner <keyword id="2502012" type="General" weightage="80" keywordseo="arun-goel" source="Orion">Arun Goel</keyword>, who was appointed on November 19. A five-judge Constitution bench headed by Justice K M Joseph said it wants to know whether there was any "hanky panky" in <keyword id="6394938" type="General" weightage="100" keywordseo="goel" source="Orion">Goel</keyword>'s appointment as election commissioner as he was only recently given voluntary retirement from service. The bench rejected the objections of Attorney General R Venkataramani on the court's willingness to see the file related to Goel's appointment while the hearing is on. Venkataramani said the court is dealing with the larger issue of the appointment of ECs and the chief election commissioner (<keyword id="6361251" type="General" weightage="50" keywordseo="cec" source="Orion">CEC</keyword>) and it cannot look at an individual case flagged by advocate <keyword id="6368850" type="General" weightage="50" keywordseo="prashant-bhushan" source="Orion">Prashant Bhushan</keyword>. "I take serious objection to this and have my reservation to the court seeing the file amidst the hearing of a Constitution bench," he said. The bench said it started hearing the matter last Thursday and Goel's appointment was effected subsequently on November 19 therefore, it wants to see what prompted the step. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/enforcement-directorate-busts-racket-thats-sending-fake-summons-in-its-name/articleshow/95715689.cms">Enforcement Directorate busts racket that's sending fake summons in its name</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-projected-to-become-worlds-third-largest-economy-overtaking-japan-and-germany-sp/articleshow/95715786.cms">India projected to become world’s third largest economy overtaking Japan and Germany: S&amp;P</a>

SC asks Centre to produce file related to appointment of Election Commissioner Arun Goel

Mining conglomerate <keyword id="19919721" type="General" weightage="20" keywordseo="Vedanta" source="keywords">Vedanta</keyword> Ltd on Tuesday reported 36.5 per cent rise in consolidated net profit at Rs 3,606 crore for June quarter FY25 due to improved margins and robust cost reduction across all operations. The company had posted a net profit of Rs 2,640 crore in the year-ago period. Income rose to Rs 36,698 crore over Rs 34,279 crore in the year-ago period, according to an exchange filing. Vedanta said in a statement that the proposed demerger of its businesses is on track and it has already filed the demerger scheme with NCLT after getting a nod from secured creditors. The company said that its board has approved a capex investment of USD 270 million for its oil and gas business. "The strategic priority for the Cairn Oil &amp; Gas business is to augment reserves and increase near term volume through infill wells and enhanced oil recovery. In order to deliver this, the Board has approved capex investment (net) of USD 270 million across fields in the Rajasthan block for drilling wells and construction of surface facility for ASP ( Alkaline Surfactant Polymer) injection," the company said in a separate filing. Vedanta Executive Director Arun Misra said that the company has delivered a strong start to the year, with exceptional EBITDA improvement of 47 per cent and PAT improvement by 54 per cent year-over-year on the back of improved margins, and robust cost reduction across all operations. "Our aluminium and zinc divisions continue to outperform industry benchmarks, consistently ranking in the top quartiles and deciles of the global cost curve. These achievements are a direct result of our strategic focus on cost, as reflected in a 20 per cent year-over-year reduction in overall cost," he said. The company's growth projects are well on track and it remains committed to commission the majority of these projects in FY25. "Moving ahead, our focus on operational efficiency, sustained expansion, and ESG excellence will guide our journey. With this dedication, we are confident in our ability to create substantial shareholder value in the year ahead," he added. Last month, the mining conglomerate raised Rs 8,500 crore (over USD 1 billion) through Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share. Company's CFO Ajay Goel said, "The overwhelming response to the Vedanta's... QIP...underscores investors' huge confidence. The proceeds from the QIP will be further instrumental in deleveraging the balance sheet and reduction of finance costs. We have received all the requisite approvals and have filed the demerger scheme with the National Company Law Tribunal (NCLT) taking our demerger a step closer to reality." The company's gross debt stood at Rs 78,016 crore as on June 30, 2024. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

In the inaugural list of top "promising young leaders and game changers" under the age of 30 in Asia from the prestigious <keyword id="6373044" type="CITY" weightage="100" keywordseo="Forbes">Forbes</keyword> magazine, <keyword id="487" type="PERSON" weightage="100" keywordseo="Sania-Mirza">Sania Mirza</keyword>, <keyword id="6354486" type="PERSON" weightage="100" keywordseo="Virat-Kohli">Virat Kohli</keyword> and <keyword id="30618" type="PERSON" weightage="100" keywordseo="Saina-Nehwal">Saina Nehwal</keyword> are leading the pack of over 50 Indians. 
 
The Forbes '30 under 30 Asia' list includes 300 "young and driven entrepreneurs and game-changers" from countries including India, Indonesia, China, Hong Kong, Singapore, Japan, Pakistan, Vietnam and Australia who are contributing to their industries in a significant way. 
 In this list, one would find 56 Indians, with Kohli, Mirza and Nehwal along with 26-year old Bollywood actress <keyword id="89958" type="PERSON" weightage="100" keywordseo="Shraddha-Kapoor">Shraddha Kapoor</keyword>. 
 
"At the top of India's crickculture is batting prince Kohli, who led India to clean sweep in their Twenty 20 series against Australia in January," Forbes said of Kohli. He was also named among India's highest earning celebrities in 2015, standing at USD 11.3 million. 
 
Talking of Mirza, Forbes said that she has been the "most successful female Indian tennis player ever" and one of the highest paid and highest profile athletes in the country. 
 
About Nehwal, Forbes described her as a "role model" and "Indian badminton queen". 
 
The list has a total of 10 categories, covering consumer technology, enterprise technology, arts, healthcare and science, media, social 
entrepreneurship, finance, industry and retail. 
 
Arunima Sinha, the first female and first Indian amputee to climb Mt Everest in 2013 and Chaitanya Tamhane, the writer and director of the critically acclaimed movie 'Court' also found place in the entertainment and sports category. 
 
Raghav Verma, the co-founder of Indian tea chain 'Chaayos', Mehul Agrawal, the cofounder of automotive e-commerce site 'Cars24' and online furniture store 'FabFurnish', Kanika Tekriwal, the cofounder of 'JetSetGo', Ritesh Agarwal, founder and CEO of 'OYO Rooms', Ankit Bhati, cofounder and CTO of 'Olacabs', Pooja Dhingra, owner and executive chef of 'Le15 Patisserie', photographer Vicky Roy, Advait and Akshat Gupt, cofounders of 'Supari Studios', Sattvik Mishra, CEO of 'ScoopWhoop Media', Manju Bhatia, joint Managing Director of 'Vasuli Recovery', Anshulika Dubey, cofounder and COO of 'Wishberry.in', Paras Chopra, founder and CEO of software company 'Wingify', Dinesh Goel, founder and CEO of 'AasaanJobs', Faith Gonsalves, founder of 'Integrated Development Education Association', Smriti Nagpal, the founder and CEO of 'Atulyakala', Chinmay Malaviya, cofounder and vice president of 'Foodpanda', Arun Chandru, cofounder and MD of 'Pandorum Technologies', Neha Sinha, cofounder and CEO of 'Epoch Elder Care' are the other names in the list. 
 
<a href="http://images.teamtalk.com/09/03/800x600/Sania-Mirza-Indian-Wells-2009_1997550.jpg">Image source</a>`

You Searched For "arun goel" and got 5 results

Vedanta's Q3 profit drops 18% on higher finance, raw material cost

PTI

Former bureaucrat Arun Goel assumes charge as new Election Commissioner

ANI

SC asks Centre to produce file related to appointment of Election Commissioner Arun Goel

PTI

Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

PTI

Sania Mirza, Virat Kohli and Saina Nehwal amongst 56 Indians in Forbes' Asia list

BI India Bureau

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