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Mining conglomerate <keyword id="19919721" type="General" weightage="20" keywordseo="Vedanta" source="keywords">Vedanta</keyword> Ltd on Tuesday reported 36.5 per cent rise in consolidated net profit at Rs 3,606 crore for June quarter FY25 due to improved margins and robust cost reduction across all operations. The company had posted a net profit of Rs 2,640 crore in the year-ago period. Income rose to Rs 36,698 crore over Rs 34,279 crore in the year-ago period, according to an exchange filing. Vedanta said in a statement that the proposed demerger of its businesses is on track and it has already filed the demerger scheme with NCLT after getting a nod from secured creditors. The company said that its board has approved a capex investment of USD 270 million for its oil and gas business. "The strategic priority for the Cairn Oil &amp; Gas business is to augment reserves and increase near term volume through infill wells and enhanced oil recovery. In order to deliver this, the Board has approved capex investment (net) of USD 270 million across fields in the Rajasthan block for drilling wells and construction of surface facility for ASP ( Alkaline Surfactant Polymer) injection," the company said in a separate filing. Vedanta Executive Director Arun Misra said that the company has delivered a strong start to the year, with exceptional EBITDA improvement of 47 per cent and PAT improvement by 54 per cent year-over-year on the back of improved margins, and robust cost reduction across all operations. "Our aluminium and zinc divisions continue to outperform industry benchmarks, consistently ranking in the top quartiles and deciles of the global cost curve. These achievements are a direct result of our strategic focus on cost, as reflected in a 20 per cent year-over-year reduction in overall cost," he said. The company's growth projects are well on track and it remains committed to commission the majority of these projects in FY25. "Moving ahead, our focus on operational efficiency, sustained expansion, and ESG excellence will guide our journey. With this dedication, we are confident in our ability to create substantial shareholder value in the year ahead," he added. Last month, the mining conglomerate raised Rs 8,500 crore (over USD 1 billion) through Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share. Company's CFO Ajay Goel said, "The overwhelming response to the Vedanta's... QIP...underscores investors' huge confidence. The proceeds from the QIP will be further instrumental in deleveraging the balance sheet and reduction of finance costs. We have received all the requisite approvals and have filed the demerger scheme with the National Company Law Tribunal (NCLT) taking our demerger a step closer to reality." The company's gross debt stood at Rs 78,016 crore as on June 30, 2024. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

New Delhi, Mar 12 () Vedanta Ltd on Thursday said total production at its Lanjigarh alumina refinery is expected to increase to 1.8 million tonne (MT) in 2019-20, on the back of a significant improvement in operating efficiencies. The production at the Odisha-based refinery had stood at 1.5 MT in the previous financial year. "The Lanjigarh alumina refinery is set for a record performance in 2019-20 with total production expected to increase to 1.8 million tonne from 1.5 million tonne in the previous fiscal," the company said in the statement. The improvement in operational parameters has been driven by a 26 per cent reduction in caustic soda consumption and a 19 per cent decline in conversion cost. The unit has achieved a 9 per cent reduction in bauxite cost per tonne through strategic bauxite sourcing. Lanjigarh now ranks among the top 5 alumina refineries globally in terms of total energy consumption. "There has been a reduced carbon intensity to 30 per cent below global average of 1,500 dollar per tonne. Lanjigarh is on track to deliver aluminium cost of production exit rate in Q4 2020," it said. Further, Hindustan Zinc Ltd has recorded metal-in-concentrate production of 90,000 tonne in February, while metal output jumped to 80,000 tonne for the month. The production cost, excluding royalty, fell below USD 1,000 per tonne levels in the fourth quarter of 2019-20. The steel business of Electrosteel Steels Ltd has recorded an improvement in operational performance with Ebitda margins of over USD 100 per tonne in the fourth quarter of 2019-20. Electrosteel is set to achieve the best-ever production of 1.4 million tonnes in 2019-20. Meanwhile, Cairn Oil &amp; Gas has successfully ramped up its facilities to full production ahead of time. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading diversified natural resource companies with business operations in India, South Africa, Namibia, and Australia. SID HRS

Vedanta expects output at Lanjigarh alumina refinery to increase to 1.8 MT in 2019-20

<ul><li>The 30-share BSE index Sensex was down 250 points, and the NSE Nifty was trading 0.67% lower at 9:55 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices opened on a choppy note on Thursday, tracking weak cues from the global markets as negotiations continue to drag over the stimulus package in the US. The 30-share BSE index Sensex was down 250 points, and the NSE Nifty was trading 0.67% lower at 9:55 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td></tr></tbody></table>*as of October 22, 09:55 am These are the top stocks in news today. Zee Entertainment Enterprises (ZEEL) up over 2% The shares of Zee Entertainment Enterprises (ZEEL) gained over 2%, a day after the company unveiled a major strategic restructuring to focus on revenue maximisation and foray into newer territories. Vedanta shares gain 3% Vedanta shares trade 3% higher ahead of the board meeting, which is scheduled to meet on October 24 to consider and approve the first interim dividend for FY21. GMM Pfaudler trades 1% higher Even in the volatile market, the shares of GMM Pfaudler were trading one percent higher. The company has reported a 29.14% jump in its consolidated net profit to ₹26.85 crore for the second quarter ended September 30. KPIT Tech shed over 3% The software technology company KPIT Tech shed over 3% after the company reported a 2.5% fall in its net profit to ₹27.8 crore for the quarter ended September 30. JK Tyre shares gain 6% The shares of tyre major JK Tyre gained over 6% during the morning trade on Thursday after the company reported strong QoQ growth in Q2. The company reported a net profit at ₹109.68 crore against the loss ₹204.17 crore in the first quarter. Bajaj Finserv trades 2% higher The shares of private lender Bajaj Finserv rose over 2% after it reported a 5.8% jump in its total income to ₹15,051.59 crore during the second quarter ended September 30. However, its consolidated net profit fell 18% to ₹986.29 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/former-tesla-cio-raises-150-million-for-his-saas-automotive-retail-startup-enters-the-unicorn-club/articleshow/78800958.cms" data-type="tilCustomLink">Former Tesla CIO raises $150 million for his SaaS automotive retail startup, enters the unicorn club</a> <a href="https://www.businessinsider.in/business/corporates/news/kumar-mangalam-birla-says-cement-industry-is-recovering-and-analysts-find-evidence-of-it-outside-ultratech-too/articleshow/78791281.cms">Kumar Mangalam Birla says cement industry is recovering and analysts find evidence of it outside UltraTech too</a> <a href="https://www.businessinsider.in/business/startups/news/uber-bus-pradeep-parameswaran-says-india-and-apac-will-follow-egypt-success/articleshow/78788982.cms">Uber Bus in India soon? Head of Mobility in APAC says he is ready to import the Egypt experiment</a> <a href="https://www.businessinsider.in/india/news/sadhguru-advice-government-should-give-tax-relief-for-sustainable-businesses/articleshow/78790522.cms">Sadhguru’s advice: Government should give tax relief for sustainable businesses</a>

Top stock movers — Vedanta, JK Tyre, GMM Pfaudler, Bajaj Finserv, Wipro, HCL Tech, Dr Reddy and others

<ul><li>At 8:00 am, the SGX Nifty was trading 0.07% higher, higher pointing towards a cautious start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to open on a tepid note, tracking subdued cues from global markets. At 8:00 am, the SGX Nifty was trading 0.07% higher, pointing towards a cautious start for Nifty50. On Thursday, the US stocks finished lower as the tech shares struggled, weighing on the market. The Dow Jones Industrial Average closed 0.47% lower, and the S&amp;P 500 fell 28.48 points, towards the close. Here’s a list of stocks to watch for in trade on September 18: Dr Reddy's Laboratories Dr Reddy's Laboratories said it had settled litigation with a unit of Bristol Myers Squibb related to patents for Revlimid (lenalidomide) capsules, used to treat various kinds of cancer. "We are pleased with the settlement agreement, and look forward to bringing a generic version of lenalidomide to market soon subject to regulatory approval for the benefit of patients," Dr Reddy's Laboratories North America Generics CEO Marc Kikuchi said. The share price of Dr Reddy's Laboratories closed 4.26% higher yesterday. TVS Motor Company One of India's largest automakers, TVS Motor, has entered into a new distribution partnership in Colombia. The company has tied up with Autotecnica Colombiana SAS (Auteco SAS), a leading motorcycle assembler in Colombia. Autotecnica Colombiana SAS will operate 50 dealerships exclusive for the company and create dedicated space for the brand in over 600 retail outlets, it added. The share price of TVS Motor closed a percent lower on Thursday. Vedanta Vedanta Resources has approached the market regulator SEBI for necessary approvals to start the reverse book building process. The company, earlier in May, announced its plans to delist Vedanta from the Indian stock exchanges by buying out non-promoter shareholding. The share price of Vedanta closed a percent higher on Thursday. IRCTC IRCTC, the company that operates Indian Railways, is planning to levy ‘affordable’ user charges in 700-1,050 stations across the country. It will help build more revenue while providing better facilities and redevelop stations for passengers. The share price of IRCTC closed a percent higher on Thursday. Hindalco and Hindustan Copper Hindalco said that it has entered into a pact with Hindustan Copper for the long-term purchase and sale of copper concentrate produced by the PSU. Under this MoU, around 60% copper content of Hindustan Copper's current concentrate production will be utilised by Hindalco in the manufacture of refined copper. The share price of Hindalco closed 4% lower on Thursday, whereas Hindustan Copper gained 3% during the closing bells. Bharat Forge, Larsen &amp; Toubro, Hindustan Aeronautics Limited, and other defence stocks Defence stocks, including Bharat Forge, Larsen &amp; Toubro, and Hindustan Aeronautics Limited, will be in focus during the trade today since India has permitted foreign direct investment (FDI) of up to 74% under automatic route in the defence sector. The share price of Bharat Forge, Larsen &amp; Toubro, Hindustan Aeronautics, all were trading in red yesterday. Vodafone Idea The telecom giant Vodafone Idea has told the telecom regulator that it is dropping the contentious faster data speed claim as part of priority offering and is in the process of filing a revised plan, according to <a href="https://www.cnbctv18.com/telecom/vodafone-idea-drops-faster-speed-claim-in-priority-offering-informs-trai-about-revised-plan-6939661.htm">media reports.</a> The share price of Vodafone Idea closed 2.17% lower on Thursday. Sterling and Wilson Solar Sterling and Wilson Solar said that the company had won a 106.71 MW solar project in Chile, it's fifth in Latin America, worth $62.6 million (about ₹462 crore). "Sterling and Wilson Solar has signed an order of 106.71 MW worth USD 62.6 million in Chile. The order has been received from a global independent power producer (IPP), work for which is expected to begin in Q4 FY 2021," the company said in a statement. The share price of Sterling and Wilson Solar closed 5% lower yesterday. HDFC Bank A US-based law firm has filed a class-action suit against HDFC Bank, claiming damages for the losses incurred by investors because of "materially false and misleading" representations made by the bank. The share price of HDFC Bank closed a percent lower yesterday. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/instagram-and-facebook-appear-to-be-down-for-some-users-in-north-america-and-europe/articleshow/78176926.cms" data-type="tilCustomLink"> Instagram and Facebook were down for some users in North America and Europe</a> <a href="https://www.businessinsider.in/sports/news/dailyhunt-app-founders-confirm-ipl-2020-associate-sponsorship/articleshow/78169667.cms" data-type="tilCustomLink">EXCLUSIVE: Dailyhunt founders confirm IPL 2020 associate sponsorship — promise new release for Josh ahead of India’s biggest cricket tournament</a>

Top stocks to watch— Dr Reddy's Laboratories, HDFC Bank, TVS Motor, Vedanta, IRCTC, L&T, Bharat Forge, HAL, and more

New Delhi, Jan 31 () Vedanta Ltd on Friday reported a 49.1 per cent rise in its consolidated profit at Rs 2,348 crore for the December 2019 quarter, on the back of lower expenses.
 The company had posted the profit of Rs 1,574 crore in the October-December period of the previous financial year, Vedanta Ltd said in a filing to the BSE.
 The profit is "attributable to owners of Vedanta Ltd", the filing said.
 In a statement, the company said "attributable PAT (was) at Rs 2,348 crore, up 49 per cent y-o-y (year-on-year)".
 However, the company had posted a decline in consolidated income at Rs 22,007 crore in the October-December period, over Rs 25,067 crore in the year-ago period.
 The company's consolidated expenses, however, declined to Rs 18,369 crore as against Rs 21,589 crore in the year-ago period.
 "We remain on track to become the world's largest long-life integrated zinc-lead-silver producer in two years while maintaining our cost leadership. Our aluminium business continues to benefit from improved integration and systemic cost improvements," Vedanta Ltd Chief Executive Officer Srinivasan Venkatakrishnan said.
 The company said revenue was 3 per cent lower on a quarter-on-quarter basis, primarily due to lower volumes in the oil and gas business.
 "Revenue was three per cent lower on Q-o-Q basis, primarily due to lower volumes in oil and gas business, partially offset by higher volumes in iron ore and steel, zinc India and aluminium business coupled with past exploration cost recovery in oil and gas business," the statement said.
 The company's net debt stood at Rs 23,384 crore in the quarter, higher by Rs 3,303 crore as compared to that in the September 2019 quarter.
 Vedanta on Friday announced the acquisition of Ferro Alloys Corporation Ltd (FACOR) for a total consideration of Rs 280 crore.
 FACOR is in the business of producing ferro alloys and owns a ferrochrome plant with a capacity of 72,000 tonnes per annum, two operational chrome mines and 100 megawatts of captive power plant through its subsidiary, FACOR Power Ltd.
 The consideration will be payable under the approved resolution plan on a debt and cash-free basis.
 The portion of payable cash is Rs 10 crore and the rest Rs 270 crore face value in the form of zero coupon, secured and unlisted non-convertible debentures payable to the financial creditors payable equally over four years commencing March 2021. SID HRS

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Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

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Vedanta expects output at Lanjigarh alumina refinery to increase to 1.8 MT in 2019-20

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Top stock movers — Vedanta, JK Tyre, GMM Pfaudler, Bajaj Finserv, Wipro, HCL Tech, Dr Reddy and others

Navdeep Yadav

Top stocks to watch— Dr Reddy's Laboratories, HDFC Bank, TVS Motor, Vedanta, IRCTC, L&T, Bharat Forge, HAL, and more

Navdeep Yadav

Vedanta profit rises 49 pc to Rs 2,348 crore in Dec quarter

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