INSUBCONTINENT EXCLUSIVE:
Mumbai: Anil Agarwal-led Vedanta posted a marginal increase in net profit for the first quarter of the current fiscal, the company announced
Net profit increased by 2% at Rs 1,533 crore, missing Bloomberg estimates of Rs 2,374 crore
Revenue from operations increased by 15% at Rs 22,206 crore on the back of higher volumes at aluminium, oil gas business, higher
availability at Talwandi Sabo plant
EBITDA stood at Rs 6,529 crore, up by 31% over last year
The company has cash and liquid investments of Rs 35,251 crore
Its net debt stood at Rs 29,910 crore; higher than the last quarter on account of acquisition of the stressed steel company Electrosteel
Steels, bagged by Vedanta under the country's bankruptcy code
''We are excited about the growth across our portfolio of zinc, aluminium, and oil gas
The projects are advancing well to meet key milestones and we are confident of the progressive volume uplift in the coming quarters,' Kuldip
Kaura, chief executive at Vedanta said
