Half Year Results 

Vedanta throws caution to the wind

Vedanta throws caution to the wind

Everything’s on the up at Vedanta Resources (VED). Interim results for the six months to September 2017 revealed higher production, revenue, earnings, free cash flow, dividends and – somewhat miraculously, given the generally favourable pricing outlook – even net debt. The latter measure now stands at an unconscionable $9bn (£6.8bn), half a billion dollars higher since March thanks to the payment of special dividends by subsidiaries Hindustan Zinc and Vedanta Limited.

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