
Vedanta Resources plc's subsidiary Vedanta Limited announced consolidated results for the first quarter ended 30 June 2018. The company reported continued strong financial performance. The company reported revenues of INR 22,206 crore, up 15 % YoY and EBITDA of INR 6,529 crore, up 31% YoY. Vedanta reported PAT at INR 1,533 crore, up 2% YoY and a strong financial position with total cash & liquid investments of INR 35,251 crore.

Vedanta reported record quarterly aluminium production of 482kt and commencement of Odisha bauxite delivery to its Lanjigarh refinery.
Commenting on the results, Mr. Kuldip Kaura, Chief Executive Officer, Vedanta Ltd, said: "We delivered strong EBITDA and steady margins this quarter driven by record volumes in aluminium, higher production in Oil & Gas, as well as, supportive commodity prices. 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"
Higher revenue was driven by higher volumes at Aluminium, Oil & Gas business, higher availability at TSPL, currency depreciation and higher commodity prices partially offset by lower volumes at Zinc and Iron Ore business.
Higher EBITDA was driven by higher volumes at Aluminium and Oil & Gas business, higher availability at TSPL, higher commodity prices and currency depreciation. Other income was lower by 62% YoY. This was primarily due to lower investment corpus due to dividend payout and mark-to-market impact on investments.
The financial position remains strong with cash and liquid investments of INR 35,251 crore. Further, the Company has undrawn fund based committed facilities of about INR 4,000 crore as on June 30, 2018. In this quarter, BALCO won the 'Chhattisgarh Gaurav Award' for its contribution towards the development of the state and Vedanta Limited - Jharsuguda won AON Hewitt Best Employer Award for 'Commitment to Engagement'.
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