Organic matter dealing company, Vedanta has reported a 17% increase in the profit rate for the second quarter. The profit amounts in Rs. 1,252 crore for the Q2 that ended on September 30th 2016.
During the quarter, as a result of "improved operating performance and working capital initiatives" the company maximised free cash flow. "We have substantially reduced our debt and remain focused on strengthening our balance sheet, including by refinancing debt maturities. Simplifying the group structure continues to be a priority, and the Cairn India-Vedanta Limited merger remains on track for completion in Q1 CY2017, supported by the shareholders of both companies."
