trending Market Intelligence /marketintelligence/en/news-insights/trending/16L9xxLDi39XReovnjpLbw2 content esgSubNav
In This List

Lower commodity prices weigh on Vedanta Resources' fiscal H1 EBITDA

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

Blog

Insight Weekly: CEO pay jumps; yield curve inversion deepens; wind giants lift turbine prices

Blog

Watch Nickel Market Outlook Complex Demand Supply Fundamentals


Lower commodity prices weigh on Vedanta Resources' fiscal H1 EBITDA

Vedanta Resources Ltd.'s revenue for the six months ended Sept. 30, 2019, fell 5% year over year to US$6.13 billion due to lower prices for its products, with EBITDA falling 19% to US$1.40 billion.

The company swung to an attributable net profit of US$503 million for the first half of fiscal 2020 from a year-ago loss of US$327 million, according to a statement released Dec. 31, 2019, on the London Stock Exchange. Profit improved mainly due to a US$331 million tax credit due to new Indian tax amendments.

Its Indian zinc operations produced 429,000 tonnes of refined metal, up 1% on a yearly basis with silver output down 5% to 9.4 million ounces. Vedanta's international zinc operations produced 123,000 tonnes of refined metal, up 130% year over year, thanks to the start of output at its Gamsberg operations in South Africa.

Aluminum output fell 3% year over year to 947,000 tonnes despite output at its Lanjigarh refinery jumping 27% to a record 856,000 tonnes. Hot metal output in its steel segment was up 15% to 645,000 tonnes.