Vedanta Q1 net profit up 2% to Rs 1,533 cr

Metals and mining giant Vedanta Ltd today posted barely 2.13 per cent rise in consolidated net profit to Rs 1,533 crore for the first quarter ended June 30, 2018-19.

It had posted net profit of Rs 1,501 crore in the April-June period of 2017-18, Vedanta Ltd said in a filing to BSE.

It said the net profit is after after taxes, non-controlling interests and share in profit of jointly controlled entities and associates but before exceptional items.

The consolidated total income during the first quarter of the current fiscal increased to Rs 22,624 core, as against Rs 20,431 crore in the year-ago period.

Vedanta Ltd CEO Kuldip Kaura said, "Vedanta had a good first quarter with revenue of Rs 22,206 crore, up 15 per cent year-on-year and EBITDA of Rs 6,529 crore, 31 per cent higher year-on-year."
"We are excited about the growth across our portfolio of zinc, aluminium and oil & gas. The projects are advancing well to meet key milestones and we are confident of the progressive volume uplift in the coming quarters."
The depreciation, the company said, was at Rs 1,796 crore,up Rs 348 crore y-o-y on account of higher charge at Zinc India due to higher ore production, higher charge at oil and gas business due to noncash impairment reversal in Q4 FY'2018 and higher volumes, and capitalisation at aluminium business