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Vedanta announces consolidated results for Q3 of 2016

2017-02-17 08:33:45  【Print】
BEIJING (Asian Metal) 16 Feb 17 - On February 14, 2017, Vedanta Limited announced its unaudited consolidated results for the third quarter (Q3) ended 31 December 2016.

Financial highlights include:
  • Revenue of Rs.Asian Metal Copyright 1,801 crore, driven by strong operating performance; Gross debt reduction of Rs.Asian Metal Copyright 19,320 crore in Q3 was up 23% q-o-q, driven by higher volumes from Zinc India in accordance with the mine plans, increased volumes at Iron Ore on account of the monsoon season in Q2, ramp-up at the Aluminium and Power businesses, and higher metal and oil prices. This was partially offset by lower volumes from Oil & Gas due to a planned shutdown during the quarter, and the Skorpion mine at Zinc International;
  • EBITDA of Rs. 6,002 crore, up 29% q-o-q and up 83% y-o-y;
  • Robust EBITDA margins1 of 39%, reflecting benefits from higher commodity prices and volume ramp-up;
  • Attributable PAT at Rs.Asian Metal Copyright3 bn in four years; Free cash flow of Rs.Asian Metal Copyright 1,866 crore, up 4.5 times y-o-y and 49% higher q-o-q;
  • Delivered cumulative cost and marketing savings of $545 mn over the last 7 quarters, ahead of plan to deliver $1.3 bn in four years;
  • Free cash flow of Rs. 1,801 crore, driven by strong operating performance;
  • Gross debt reduction of Rs.Asian Metal Copyright .Asian Metal Copyright 1,828 crore and net debt reduction of Rs. 447 crore during the quarter;
  • Strong financial position with total cash and liquid investments of Rs.Asian Metal Copyright5 times y-o-y and 49% higher q-o-q; Delivered cumulative cost and marketing savings of $545 mn over the last 7 quarters, ahead of plan to deliver $1.Asian Metal Copyright 53,452 crore.
Operational highlights include:
  • Zinc India: Mined metal production up 44% q-o-q in line with mine plans; environment clearances received for expansion of Zawar and Sindesar Khurd mines;
  • Aluminium: Smelters continue to ramp-up; third line of the 1.25 mtpa Jharsuguda-II smelter commenced ramp up in December 2016;
  • Power: 1,980MW TSPL plant availability at 77%;
  • Oil & Gas: Mangala EOR production at 55 kboepd; Rajasthan production impacted by planned shutdown;
  • Iron ore: Achieved annual mining production cap in January; received additional mining allocation in Goa for FY2017.

.Asian Metal Copyright Operational highlights include: Zinc India: Mined metal production up 44% q-o-q in line with mine plans; environment clearances received for expansion of Zawar and Sindesar Khurd mines; Aluminium: Smelters continue to ramp-up; third line of the 1.Asian Metal Copyright

Aluminum Alloy

ADC12 EXW China

Unit:RMB/mt
China''s active primary aluminum producers'' inventory to production ratio statistics by province by month
Unit: mt
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