Vedanta's Q3 consolidated 'attributable net profit' up 2%

Diversified natural resources company Vedanta on Wednesday reported a rise of 2 per cent in its consolidated "attributable profit after tax" but before "exceptional item" for the third quarter of 2017-18.

According to the company, its "attributable PAT before exceptional item" increased to Rs 2,173 crore from Rs 2,133 crore reported for the corresponding quarter of previous fiscal.

The company had to bear an exceptional item which "comprises a one-time charge of Rs 158 crore in Q3 FY 2018 relating to arbitration of a historical vendor claim in the aluminium business and acquisition related cost of ASI".

Further, Vedanta's consolidated net sales during the quarter under review increased by 19 per cent to Rs 24,361 crore from Rs 20,391 crore Q3, 2016-17.

"We delivered a robust quarter with EBITDA significantly higher y-o-y and q-o-q, with our EBITDA margin remaining strong. Our ramp-up plans across our well invested assets are on track, and are delivering industry leading growth," said CEO Kuldip Kaura.

"We maintain a strong balance sheet and are committed to our capital allocation framework. We are looking forward to a strong Q4 which will help us finish the year with healthy cash generation."

--IANS

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