Billionaire Anil Agarwal-led Vedanta Limited’s first quarter net profit doubled to ₹1,525 crore on the back of a 27% growth in revenue to ₹18,203 crore aided by higher zinc volume and prices.
Vedanta’s earnings before interest, tax, depreciation and amortisation in the quarter grew 40% to ₹4,865 crore on a robust margin of 36%.
Our zinc and oil & gas businesses have delivered a strong quarter,” said Tom Albanese, chief executive officer, Vedanta Ltd.
“Zinc prices have strengthened... on continued global supply deficits. Our continued ramp up in the aluminium business has helped us exit the quarter on a strong production run rate of 1.4 mtpa,” he said.
“We are realising the true benefits of Vedanta’s diversified portfolio,” Mr. Albanese added. The firm had cash and liquid investments of ₹48,318 crore, said a company statement, adding that Vedanta had “un-drawn committed facilities of $1.1 billion as on June 30.”
Vedanta’s gross debt stood at ₹67,342 crore and net debt was at ₹19, 024 crore. The company’s shares rose 3.7% to close at ₹274.4 on the BSE.