Vedanta Assets Restricted (Vedanta), the father or mother corporate of Mumbai-listed mining large Vedanta Ltd, as of late mentioned it has paid all its maturing loans and bonds due on this month to scale back its gross debt by means of an extra $1 billion.
Vedanta has now diminished debt by means of a complete of $3 billion because it introduced in February 2022 its purpose to boost up deleveraging.
It had introduced plans to scale back debt by means of $4 billion inside 3 years.
“Vedanta has thereby accomplished 75 in step with cent of its dedicated relief in simply 14 months,” the company mentioned in a observation.
The company’s gross debt now stands at $6.8 billion, down from $7.8 billion on the finish of March 2023 and from $9.7 billion on the finish of March 2022.
“All over the stability of FY24, we imagine that sturdy operational efficiency from our world-class asset base coupled with tough commodity costs will result in additional deleveraging at Vedanta,” the observation mentioned.
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