Financial Highlights
Revenue of US$5.7 billion and EBITDA(1) of US$1.3 billion, 12% and 39% lower than H1 FY2015 respectively, primarily due to lower commodity prices
EBITDA margin (adjusted)(2) of 30% (H1 FY2015 : 43%)
Underlying (Loss)/Earnings Per Share(3) of (57.6) US cents (H1 FY2015: 9.4 US cents)
Basic (Loss)/Earnings Per Share of (117.7) US cents (H1 FY2015: (4.7) US cents), primarily due to lower commodity prices
Free cash flow after growth capex of US$1.3 billion (H1 FY2015:US$0.2 billion)
Gross debt reduced by US$0.2 billion to US$16.5 billion (US$0.7 billion over 1 year)
Net debt reduced by US$0.9 billion to US$7.5 billion (US$1.5 billion over 1 year)
No interim dividend in light of the current market volatility, board to review at year-end
Business Highlights
Strong mined and refined metal production at Zinc India; integrated silver production increased 50%
Oil & Gas: Q2 production up 6% on Q2 FY2015; H1 FY2016 production in line with guidance
Aluminium: stable volumes from existing smelters with cost reduction initiatives in progress; further pots at Jharsuguda-II smelter to commence ramp-up in Q3 FY2016
Copper India: stable operations with 96% capacity utilisation
Iron Ore: approvals received for all major mines at Goa, and mining recommenced at 2 mines; export duty reduced from 30% to 10% for less than 58% Fe iron ore, effective from 1 June 2015
Power: TSPL first unit achieved 71% availability during H1 FY2016; 86% in Q2 FY2016
