Vedanta has reported a 6 per cent uptick in its June quarter net profit at ₹5,593 crore (₹5,283 crore in the year-ago period) on lower tax outgo and better margins.
Total income increased to ₹39,355 crore (₹29,151 crore). While overall expenses were up at ₹32,095 crore (₹21,751 crore), the net tax outgo was down at ₹1,668 crore (₹1,888 crore). EBITDA in the quarter under review was up 7 per cent at ₹10,741 crore.
Key priorities
Sunil Duggal, Chief Executive Officer, Vedanta, said the key priorities will be to deliver committed volumes, timely execution of projects for growth, value addition, vertical integration and cost reduction across key businesses and proactive commodity price risk management.
The company’s gross debt increased by ₹8,031 crore in the quarter to ₹61,140 crore. Net debt was up by ₹5,820 crore to ₹26,799 crore. The company has reserves of ₹34,342 crore.