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Trading statements

Vedanta Ltd's hikes Q3 EBTIDA

14 February 2017 09:27

Vedanta Ltd said volume ramp-up and cost efficiencies across its operations, aided by higher commodity prices, have significantly driven up EBITDA on the year in Q3.

"Our financial position remains robust and we continue to strengthen our balance sheet by maximising free cash flow and reducing debt," said CEO Tom Albanese in a statement.

"With our focus on simplifying the group structure, the Vedanta Limited and Cairn India merger is expected to be completed in the first quarter."

Vedanta Ltd posted EBITDA of Rs.6002 crore, up 29% on the quarter and up 83% on the year. A also reported a robust EBITDA margin of 39%.

The company's attributable after-tax profit was Rs.1866 crore, up 4.5-times on the year and 49% on the quarter.

At 9:27am: (LON:VED) Vedanta Resources PLC share price was 0p at 1101p

Story provided by StockMarketWire.com

Related Company: VED

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