Vedanta Q1 PAT jumps 4-folds

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, CEO of Vedanta, in a statement, said: "We're 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."

sHe 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.