With commodity prices failing to find a bottom, Vedanta’s operating performance has continued to dwindle with Q3 sales falling 27% yoy (and 11% qoq) to $2.4bn. So far, during 9m FY2016, group sales are down 17% to $8.1bn, with the most severe impact emanating from oil & gas – down 46%. Reported Q3 EBITDA is down 51% (and 23% qoq) to $494m while for 9m FY2016 it is down 43% to $1.8bn. Apart from struggling oil & gas (EBITDA collapsing 65% during 9m FY2016), aluminium too ha
08 Feb 2016
Operations sag further while borrowings inch (marginally) higher
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Operations sag further while borrowings inch (marginally) higher
Vedanta Resources (VED:LON) | 0 0 0.1% | Mkt Cap: 2,059m
- Published:
08 Feb 2016 -
Author:
Varun Sikka -
Pages:
2
With commodity prices failing to find a bottom, Vedanta’s operating performance has continued to dwindle with Q3 sales falling 27% yoy (and 11% qoq) to $2.4bn. So far, during 9m FY2016, group sales are down 17% to $8.1bn, with the most severe impact emanating from oil & gas – down 46%. Reported Q3 EBITDA is down 51% (and 23% qoq) to $494m while for 9m FY2016 it is down 43% to $1.8bn. Apart from struggling oil & gas (EBITDA collapsing 65% during 9m FY2016), aluminium too ha