Vedanta results today: Shares dip ahead of Q4 results 2024 as market estimates weak numbers
Q4 results 2024: Ahead of the announcement of Vedanta Q4 results today, the Indian metal major Vedanta shares witnessed selling pressure in early morning deals. Vedanta share price today opened downside at ₹380 apiece on NSE and went on to touch an intraday low of ₹377.10 per share, recording around 1.65 percent intraday loss during Thursday deals.
According to stock market experts, the market is expecting weak Vedanta results in Q4FY24 and hence the stock is under selling pressure. They said that the company's EBITDA may fall to the high single digit due to weakness in metal prices, especially Zinc, Copper, and Aluminium.
They also added that the company's zinc division is expected to perform badly in Vedanta results today. Speaking on Vedanta Q4 results 2024, Shreyansh Shah, Research Analyst at StoxBox said, “Vedanta is expected to post weak fourth-quarter results amid weak metal prices across its various segments including zinc, copper and aluminum and subdued performance of oil and gas segment.
EBITDA is expected to fall in high-single digits on an annual basis primarily due to weak zinc division performance. We would closely monitor management comments on the near-term demand outlook, pricing environment, strategy, and progress on the expected demerger of its divisions, volume and mined production guidance, deleveraging efforts, and dividend payout strategy." Expecting a weak Vedanta results today, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360 said, "Vedanta is all set to declare its March quarter results on Thursday, April 25.
We expect Vedanta to report around a 36% YoY decline in profit at Rs.1,983 crore compared with Rs.3,099 crore. Also, Revenue to decline by around 10% YoY to ₹34,186 crore.
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