After a strong turnaround in FY17, when Vedanta managed to achieve operating margins of 19% (comparable with the prior year’s) and trimmed its net losses to just $23m (vs. $1.8bn in FY16), even FY18 embarked on a promising note. The continuation of strong commodity markets (particularly zinc: +35% yoy and aluminium: +21% yoy) resulted in Q1 sales coming in at $3.1bn (+32% yoy). Although qoq sales were down 14% due to both subdued volumes (with zinc impacted by an exceptional Q4 FY17, po
04 Sep 2017
Operating improvements (along with piecemeal deleveraging) continue
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Operating improvements (along with piecemeal deleveraging) continue
Vedanta Resources (VED:LON) | 0 0 0.1% | Mkt Cap: 2,059m
- Published:
04 Sep 2017 -
Author:
Varun Sikka - Pages:
After a strong turnaround in FY17, when Vedanta managed to achieve operating margins of 19% (comparable with the prior year’s) and trimmed its net losses to just $23m (vs. $1.8bn in FY16), even FY18 embarked on a promising note. The continuation of strong commodity markets (particularly zinc: +35% yoy and aluminium: +21% yoy) resulted in Q1 sales coming in at $3.1bn (+32% yoy). Although qoq sales were down 14% due to both subdued volumes (with zinc impacted by an exceptional Q4 FY17, po