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Annual Results

Vedanta subsidiary delivers record earnings but no final divi

20 April 2017 13:01

Vedanta Resources has announced that its subsidiary, Hindustan Zinc, reported record earnings (EBITDA) of Rs. 3,770 Crore for the quarter and Rs. 9,734 Crore for fiscal year 2017; up 190% and 46% respectively year-on-year.

Net Profit was 3,057 Crore for the quarter and Rs. 8,316 Crore for FY 2017; up 42% and 2% respectively year-on-year.

The Company added that, in view of the special interim dividend declared in March, no final dividend is recommended.

Operational Highlights - FY 2017:

- Record mined metal production of 907kt against 889kt a year ago; in-line with guidance

- Record integrated silver production of 453 MT, up 7% from previous year

- Total R&R of 404.4 million MT, a net addition of 14.5 million MT

Operational Highlights - Q4 FY 2017:

- Record mined metal production at 312kt; up 66% y-o-y and 13% q-o-q

- Record integrated silver production at 139 MT; up 14% y-o-y and 18% q-o-q

- Integrated zinc-lead metal production at all-time high of 260kt; up 35% y-o-y and 6% q-o-q

At 1:01pm: (LON:VED) Vedanta Resources PLC share price was -14.5p at 700.5p

Story provided by StockMarketWire.com

Related Company: VED

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