Vedanta Sets New Records with Strongest 1H EBITDA and Revenue Growth

Vedanta Limited, a major minerals and energy conglomerate, reported record-breaking financial results for the first half of 2024. The company saw remarkable increases in EBITDA and revenue. Strategic initiatives, including a major demerger, are underway to maintain cost efficiency, growth, and ESG leadership.

Vedanta Limited has announced its financial results for the first half of 2024, showcasing its strongest half-yearly EBITDA at $2.47 billion, a significant 46% increase from the previous year.

The company's consolidated revenue for Q2 was $4.4 billion, an increase of 5% quarter-over-quarter and 10% year-over-year, with quarterly consolidated EBITDA rising by 44% year-over-year to $1.2 billion.

Vedanta's impressive financial performance is attributed to cost efficiency, favorable commodity prices, and strategic financial maneuvers, including a large-scale demerger initiative into six separate entities.

(With inputs from agencies.)