Vedanta Q3 EBITDA jumps 35%, zinc output up
Indian-focused mining group Vedanta Plc posted a 35% jump in third quarter core earnings on Thursday, driven by strong metals prices and higher output after buying zinc operations from Anglo American.
January 27, 2011 / 15:30 IST
Indian-focused mining group Vedanta Plc posted a 35% jump in third quarter core earnings on Thursday, driven by strong metals prices and higher output after buying zinc operations from Anglo American.
The London-listed firm said in a trading update that earnings before interest, tax, depreciation and amortisation (EBITDA) increased to a record USD 895.4 million in the three months to end-December from USD 662.5 million a year ago.Sales rose 44% to USD 3.077 billion.Third-quarter output of refined zinc, Vedanta's most profitable product, rose 20% to 178,000 tonnes, helped by the acquisition of Anglo's Skorpion mine in Namibia.Production of iron ore dipped 2% to 5.3 million tonnes and sales were hit by a monsoon and transport problems.In November, Vendata posted an 81% jump in first half earnings per share and said it was working on possible listings of its energy and Zambian copper units Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
