Vedanta subsidiary delivers record earnings but no final divi

Vedanta Resources has announced that its subsidiary, Hindustan Zinc, reported record earnings (EBITDA) of Rs. 3,770 Crore for the quarter and Rs. 9,734 Crore for fiscal year 2017; up 190% and 46% respectively year-on-year.

Net Profit was 3,057 Crore for the quarter and Rs. 8,316 Crore for FY 2017; up 42% and 2% respectively year-on-year.

The Company added that, in view of the special interim dividend declared in March, no final dividend is recommended.

Operational Highlights - FY 2017:

- Record mined metal production of 907kt against 889kt a year ago; in-line with guidance

- Record integrated silver production of 453 MT, up 7% from previous year

- Total R&R of 404.4 million MT, a net addition of 14.5 million MT

Operational Highlights - Q4 FY 2017:

- Record mined metal production at 312kt; up 66% y-o-y and 13% q-o-q

- Record integrated silver production at 139 MT; up 14% y-o-y and 18% q-o-q

- Integrated zinc-lead metal production at all-time high of 260kt; up 35% y-o-y and 6% q-o-q

At 1:01pm: (LON:VED) Vedanta Resources PLC share price was -14.5p at 700.5p