Vedanta’s revenue rises 39% in H1 FY2018; achieves record aluminium production
Vedanta Resources published results for the six months ended 30 September 2017 on Friday. The company posted revenue and EBITDA of US$6.8 billion and US$1.7 billion respectively due to higher volumes and strong commodity prices. Profit attributable to equity holders of the parent (before special items) increased to US$ 21 million.
The company’s aluminium production increased 39 per cent to 753 thousand tonnes in H1 FY2018, with an exit run-rate of 1.6 million tonnes per annum (excluding trial run production) in September 2017.
In FY2018, Vedanta is expected to produce between 1.5 million to 1.6 million tonnes of aluminium. The company is anticipated to exit FY2018 at a run rate of 2 million tonnes per annum.
Anil Agarwal, Chairman of Vedanta Resources plc, commented: “Our performance in the half year underlines that Vedanta’s consistent strategy is delivering results. We are seeing the benefits of growth at Zinc and Aluminium, and the benefits of strong operating performance overall, alongside higher commodities prices.”
The company produced 572 thousand tonnes of alumina in H1 FY2018. In FY2018, it expects a range of 1.3-1.4 million tonnes for alumina.
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