Vedanta plans $2.4-billion capex over two years

Consolidated net doubles to Rs 1,525 crore on year-on-year basis

Anil Agarwal-led Vedanta has planned a capex of $2.4 billion over the next two years ($1.2 billion each in FY18 and FY19). The company will be investing in zinc projects of Hindustan Zinc, rebuilding volumes for its oil and gas business and doubling capacity at the Tuticorin copper smelter.

In the June quarter, the company's consolidated performance continued to be strong on the back of healthy earnings from its subsidiary Hindustan Zinc. The standalone business, however, put up a dismal show.

“Weak performance of standalone business was expected as ongoing ramp up in the aluminium segment has pushed up depreciation.