The News Scroll 03 May 2018  Last Updated at 6:47 pm | Source: PTI

Vedanta Q4 PAT grows 34 pc to Rs 5,675 crore

Vedanta Q4 PAT grows 34 pc to Rs 5,675 crore
outlookindia.com
1970-01-01T05:30:00+0530

New Delhi, Jan 31 (PTI) Mining conglomerate Vedanta Ltd today reported a 34 per cent rise in consolidated profit-after-tax (PAT) at Rs 5,675 crore for the fourth quarter ended March 2018.

The company had posted a consolidated PAT of Rs 4,226 crore in the year-ago period, it said in a statement.

Vedanta's income from operations in the period under review rose 17 per cent to Rs 27,630 crore from Rs 23,691 crore in the corresponding quarter of the previous fiscal.

For the entire 2017-18 fiscal, its PAT grew 21 per cent to Rs 13,692 crore from Rs 11,319 crore in 2016-17.

Commenting on the results, Vedanta Ltd CEO Kuldip Kaura said: "Our volume ramp-up plans stayed on track, resulting in a significantly higher EBITDA for the year, despite challenges from input price inflation."

In 2019, the focus will be on generating strong cash flows on the strength of higher volumes and improved cost structure in businesses which will further strengthen company's financials and will drive superior shareholder returns, he said.

"The shutting down of mining operations in Goa in the wake of a Supreme Court order had a negligible impact on the company's business during the last quarter. Since the operations closed mid-March, which is a closing month, it had a negligible impact," Kaura said.

Vedanta Ltd chairman Navin Agarwal said, "FY'18 was a transformational year for Vedanta. The diversified, well-invested and low-cost portfolio of the company delivered industry leading volume growth during the year. We paid a record interim dividend of Rs 7,881 crore and contributed Rs 33,000 crore to the exchequer in FY'18. I am excited about the many growth opportunities for the company which will further enhance shareholder value.”

Vedanta said its Gamsberg project is on track and is expected to commence production by mid 2018.

During the financial year 2017-18, the company produced record aluminium at 1.7 MT.


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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