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Metal, mining and energy conglomerate Vedanta reported a 27 per cent increase in net profit to ₹5,354 crore, against ₹4,224 crore logged in the same period last year, on the back of higher production and better realisation.
Revenue increased 50 per cent to ₹33,697 crore (₹22,498 crore). EBITDA jumped 42 per cent to ₹10,938 crore (₹7,695 crore). Finance cost was down 8 per cent at ₹ 1,216 crore, mainly due to lower average borrowings, partially offset by increased rate of borrowings.
Gross debt was down at ₹52,783 crore as of December-end due to repayment of ₹9,629 crore debt at Zinc India and Aluminium business. Net debt dipped by ₹7,781 crore to ₹27,576 crore.
The company had cash and cash equivalents of ₹25,207 crore.
The company plans to enhance value added product capacity to 430 KTPA (250 Billet and 180 PFA) with investment of ₹750 crore at Jharsuguda.
Sunil Duggal, Chief Executive Officer, Vedanta, said the company benefited from sustained margin improvement from operational efficiencies and high commodity prices despite input commodity headwinds.
The company maintained net debt to EBITDA at 0.7 times, he said..
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