Vedanta Ltd's Transformative Growth Amidst Strategic Expansion Initiatives

Vedanta Ltd reported a net profit of Rs 4,352 crore for the September 2024 quarter, driven by reduced tax expenses. The company announced significant future growth projects, including a Rs 5,209 crore investment in the Athena Chhattisgarh Power Plant, while its demerger process is progressing.

In a strong financial turnaround, Vedanta Ltd declared a consolidated net profit of Rs 4,352 crore for the quarter ending September 2024, buoyed by lower tax outlays. This marked a significant improvement from a net loss of Rs 1,783 crore in the same period last year.

The mining giant's income saw a slight dip to Rs 38,934 crore, compared to Rs 39,585 crore in the previous year's corresponding quarter. Executive Director Arun Misra remarked on the transformative phase ahead, with major growth and integration projects poised to accelerate.

The company also advanced its strategic plans by approving a Rs 5,209 crore capital expenditure for the Athena Chhattisgarh Power Plant and unveiled details of its ongoing demerger, set to enhance stakeholder value. CFO Ajay Goel highlighted a robust operational performance with a record-breaking half-year EBITDA up by 46% Y-o-Y.

(With inputs from agencies.)