Vedanta s Q3 consolidated attributable net profit up 2%

Mumbai Jan 31 (IANS) 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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