Vedanta announced that the State Pollution Control Board, Odisha has revoked the order for closure of three power plant units (two units of 135 MW each and one unit of 600 MW ) on 20 September 2017.

Earlier on 13 September 2017, the State Pollution Control Board had directed the temporary closure of five power plants units (three units of 135 MW each of the 1215 MW power plant and two units of 600 MW of the 2400 MW power plant) in Jharsuguda.

The revocation order will help the Company get complete reliable power generation back in place, satisfying the current requirement for smelter operations.

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The announcement was made after market hours yesterday, 14 September 2017.

Meanwhile, the S&P BSE Sensex was down 36.45 points or 0.11% at 32,205.48.

On the BSE, 1.73 lakh shares were traded on the counter so far as against the average daily volumes of 8.16 lakh shares in the past two weeks. The stock had hit a high of Rs 316.15 and a low of Rs 313.35 so far during the day. The stock had hit a 52-week high of Rs 334.50 on 12 September 2017. The stock had hit a 52-week low of Rs 159.35 on 16 September 2016.

Vedanta said that following a breach in the Ash Pond dyke wall at Jharsuguda, Odisha at the end of August, the State Pollution Control Board, Odisha (SPCB) on 13 September 2017 served a direction resulting in a temporary closure of three units of 135 megawatts (MW) each of the 1,215 MW power plant, and two units of 600 MW each of the 2,400 MW power plant. The remaining units of the 1,215 MW plant have been allowed to operate until 12 October 2017, and the remaining units of the 2,400MW plant have been allowed to operate until 20 September 2017.

The SPCB has asked the company for compliance of certain conditions with a concrete plan within 5 days. The company is complying with the order of SPCB along with a request for revoking the said closure orders. This action may require a temporary power purchase of upto 200 MW, and hence a marginal impact on cost of production of aluminium. The company expects to be able to sustain the smelter capacity without affecting its production volume.

Vedanta said it is working towards the lifting of the SPCB closure orders at the earliest, to ensure that aluminium production is not affected.

Vedanta's consolidated net profit rose 67.15% to Rs 2270 crore on 26.72% growth in revenue to Rs 18203 crore in Q1 June 2017 over Q1 June 2016.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power.

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Vedanta announced that the Board of Directors of the Company in their meeting held on 31 August 2017, have considered the following:

1.Cessation of term of Thomas Albanese Whole-Time Director and Chief Executive Officer w.e.f. 31 August 2017;

2.Appointment of Kuldip Kaura as the Interim Chief Executive Officer w.e.f. 01 September 2017.

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The result was announced at the fag end of market hours yesterday, 25 July 2017. The stock had risen 3.66% to Rs 274.40 yesterday, 25 July 2017.

Meanwhile, the S&P BSE Sensex was up 71.77 points or 0.22% at 32,300.04.

On the BSE, 7.5 lakh shares were traded on the counter so far as against the average daily volumes of 10.48 lakh shares in the past one quarter. The stock had hit a high of Rs 282.95 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 278 so far during the day. The stock had hit a 52-week low of Rs 154 on 2 August 2016.

The stock gained 15.93% over the past one month till 25 July 2017, outperforming the Sensex's 3.5% rise. The scrip had also outperformed the market in past one quarter, rising 16.57% as against Sensex's 7.63% rise. The scrip had also outperformed the market in past one year, jumping 59.63% as against Sensex's 14.71% rise.

The large-cap company has equity capital of Rs 371.72 crore. Face value per share is Re 1.

Vedanta's consolidated net profit rose 67.15% to Rs 2270 crore on 26.72% growth in revenue to Rs 18203 crore in Q1 June 2017 over Q1 June 2016.

Revenue was higher due to higher volume at Zinc India & ramp-up at aluminium business and higher commodity prices partially offset by currency appreciation, lower volume at Copper India and iron ore and pot outages at 500 kilotonnes Jharsuguda-I smelter and TSPL fire incident in 17 April 2017.

Earnings before interest, tax, depreciation and amortization (EBITDA) rose 40% to Rs 4965 crore in Q1 June 2017 over Q1 June 2016, driven by higher commodity prices, higher volumes and cost savings. This was partially offset by currency appreciation, input commodity inflation and lower plant availability at TSPL. EBITDA margin rose to 36% in Q1 June 2017 from 32% in Q1 June 2016, on increased volumes and cost efficiencies.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power.

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