Vedanta Resources Ltd reduces its net debt by $ 300 million in the first half of the year


MUMBAI : Mining company Vedanta Resources Ltd (VRL) reduced its net debt (including inter-company loan and loan to Volcan) by $ 300 million in the first half of this fiscal year and plans to reduce its debt further by $ 500 million dollars in the second half, the company said Monday.

“With the full repayment of the debt at Volcan, the commitment on all VRL shares has been released. We believe that the strong operational performance of our world-class asset base will strengthen our balance sheet and lead to quality credit metrics, ”the company said. in a press release

The company added that in line with the group’s commitment to decarbonize its operations to achieve net zero targets, Vedanta Limited has formed an ESG committee of the board.

It has also taken a digital first approach and is undertaking various transformation projects to digitize operations and processes to further improve health, safety, environmental compliance and risk management.

The company script was trading at ??306.20, up 1.46% on BSE this morning.

To subscribe to Mint newsletters

* Enter a valid email address

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our app now !!

Source link


Leave A Reply