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Vedanta fiscal Q3'18 EBITDA up 21% YOY on higher volumes, commodity prices

Vedanta Resources Plc said Feb. 2 that group EBITDA in the third quarter of its fiscal 2018 surged to US$1.07 billion, a 21% rise from US$882 million during the year-ago quarter due to higher volumes and commodity prices but partially offset by input commodity inflation.

Group revenue for the quarter jumped 32% year over year to US$4.06 billion from US$3.07 billion.

Refined zinc production at the company's Indian operations declined 3% year over year to 200,000 tonnes and increased 43% to 47,000 tonnes at its international operations.

Copper cathode output was down 1% year over year at 101,000 tonnes due to an eight-day unplanned shutdown at the Tuticorin smelter. Its Zambian operations hiked copper output 43% to 54,000 tonnes.

Total aluminum production surged 40% year over year to 445,000 tonnes, and salable iron ore production from its Goa and Karnataka operations dropped 64% year on year to 900,000 dry tonnes.

Group EBITDA for the first nine months of fiscal 2018 rose 31% year over year to US$2.76 billion, and revenue surged 36% to US$10.83 billion.