Vedanta cuts ₹4,624cr debt while profit jumps 151% to ₹6,202cr
Business
Vedanta just made some big money moves, slashing its debt by ₹4,624 crore last quarter and boosting net profit by a massive 151% to ₹6,202 crore.
Its revenue also jumped 57% year over year, hitting ₹25,812 crore.
Vedanta says debt-free by year-end
After splitting up its businesses (think oil, gas, and aluminum), Vedanta spread out its debt more smartly.
Now its total debt is down to about ₹3,675 crore, with the aluminum side holding $3.5 billion.
Thanks to these changes and some serious financial discipline, Vedanta says it's on track to be totally debt-free by year-end.