Vedanta posted its Q2 results on Friday afternoon.

What Happened: Anil Agarwal-led company posted a net profit of ₹4,352 crore in Q2 compared to ₹1783 crore net loss in the same quarter of the previous year. The conglomerate’s revenue declined 3.56% year on year to ₹37,171 crore, compared to ₹38,546 crore in the previous year.

Last year, Vedanta’s profit was affected by ₹9,092 crore tax expense.

The company’s EBITDA was up 44% year on year to ₹10,364 crore in the September quarter. EBITDA margin was at 34%, increasing by 900 basis points from the previous year.

See Also: SBI Q2 Net Profit Climbs 27.9% To ₹18,331.44 Cr, Beats Estimates

Vedanta’s net debt stood at ₹56,927 crore in the quarter declining by ₹4,400 crore from the June quarter.

Vedanta Resources, the parent company of Vedanta raised $1.2 billion (around ₹10,125 crore) through a bond issue and reduced interest costs on this debt by 3%, the company said in its press release. Net Debt of the parent entity was reduced by $1 billion (around ₹8,437 crore) in the first half to reach its lowest level in a decade, the company added.

Price Action: Shares of Vedanta were up 0.84% to 461.75 after the results were announced.

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