Vedanta Resources operating profit up 27% to $4.1 bn in FY'18

Diversified global natural resources giant Vedanta Resources today reported a 27 per cent surge in operating profit to USD 4.1 billion for 2017-18 on higher output and increase in prices.

The LSE listed company, which produces aluminium, copper, zinc, lead, silver, iron ore, oil and gas and commercial energy, had registered group EBITDA (earnings before interest, tax, depreciation and amortisation) of USD 3.2 billion in the financial year 2016-17, it said in a statement.

Its revenue increased by 33 per cent to USD 15.4 billion driven by firmer commodity prices and volume ramp-ups.

The gross debt at USD 15.2 billion saw a reduction of USD 3 billion in 12 months which included repayment of USD 1.2 billion of temporary borrowing at Zinc India, the company said.

Vedanta Resources Plc Chairman Anil Agarwal said: "...increased volumes and prices underpinned a 33 per cent increase in revenues to reach USD 15.4 billion, as well as a 27 per cent growth in EBITDA to USD 4.1 billion."
"Vedanta remains well positioned to capitalise on India's growing resources demand. I look forward to another strong year for the company."