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01 FEBRUARY 2019 AL CIRCLE

Vedanta reports highest ever alumina production in Q3 FY 2019

EDITED BY : HEENA IQBAL 2MINS READ

Vedanta Limited announced its unaudited consolidated results for the Third quarter ended 31 December 2018. The company reported record quarterly alumina production of 404,000 tonnes in Q3 FY 2019, up 16% q-o-q.

Mr. Srinivasan Venkatakrishnan, Chief Executive Officer, Vedanta, said "We are pleased with the strong operational and financial results for the third quarter.  We achieved record Zinc and Lead MIC volumes and silver production at Hindustan Zinc, and had the highest ever Alumina production.  We saw structural reductions in Aluminium costs with increasing raw material linkages.”

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The company reported revenue of INR23,669 crore in Q3 FY 2019, up 4% from INR22,705 crore Q2 FY 2019, due to higher volume at Zinc India & Aluminium business and currency depreciation though was partially offset by lower commodity prices.

On a y-o-y basis, revenue was 3% lower on account of shutdown of copper smelter at Tuticorin and lower commodity prices, partially offset by currency depreciation and higher volumes at Electrosteel and Aluminium business.

EBITDA in Q3 FY 2019 was at INR5,953 crore,  up 13% quarter on quarter on account of higher volume at Zinc India and Electrosteel, supported by currency depreciation and write back of liability pursuant to settlement agreement with a contractor at Balco.  EBITDA margin improved q-o-q to 29% from 26% in Q2 FY2019.

Attributable Profit after Tax (PAT) before exceptional items and DDT for the quarter was at INR1,574 crore. PAT was higher by 39% q-o-q.


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EDITED BY : HEENA IQBAL 2MINS READ

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