Vedanta Q1 PAT jumps over four-folds to Rs 4,280-cr

 Vedanta Limited on Monday reported over four-fold jump in its consolidated profit after tax (PAT) to Rs 4,280 crore during the June quarter, boosted by higher income.

During the year-ago quarter, the company's "net profit after taxes before exceptional items" was at Rs 1,033 crore, Vedanta Limited said in a BSE filing.

Total income in the April-June period of the ongoing financial year surged to Rs 29,151 crore from Rs 16,998 crore in the same quarter a year ago.

The company's expenses were at Rs 21,847 crore as against Rs 14,965 crore in April-June of 2020.

Sunil Duggal, the Chief Executive Officer of Vedanta in a statement, said, "We are happy to announce another strong quarter with continued momentum across all businesses. We delivered record operational performance, maintaining the trajectory of cost and volumes, driven by structural integration and technology adoption.

"Despite the uncertain market conditions, we have continued with our winning streak by reporting the highest ever quarterly EBITDA of Rs 10,032 crore, up 150 per cent y-o-y."

He further said that the company's focus is on lowering its carbon footprint, unlock a sustainable future growth and maximizing value for stakeholders.

As of June, net debt of the company was at Rs 20,261 crore, the statement said.

Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world's leading oil and gas and metals company with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, and aluminium and power across India, South Africa, Namibia, and Australia.

At 549 kilo tonne (kt), Vedanta Ltd recorded its highest ever quarterly production of aluminium.

In India, the company produced 236 kt refined zinc, a y-o-y rise of 17 per cent, while the production of silver rose 37 per cent to 161 tonne during the June 2021 quarter.

"The average gross operated production of oil and gas was at 165 kboepd for Q1 FY2022," the company said.

The production of saleable iron ore at Karnataka was at 1.4 million tonne, and the production of saleable steel was at 289 kilo tonne in April-June 2021.

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