Vedanta Reports 31% Surge in Core Earnings on Oil and Gas Boost
January 31, 2013 7:06 PM EST
Earnings before interest, tax, depreciation and amortisation (EBITDA) grew to $1.11 billion in the three months ended December 31, from $848.4 million a year earlier, the London-listed company said.
Vedanta, which counts Indian billionaire Anil Agarwal as its largest shareholder, said revenue climbed 7 percent to $3.58 billion.
Average daily gross operated production was 205,014 barrels of oil equivalent in the third quarter, up 21 percent from last year.
Mined metal in the company's Indian zinc unit rose to 233,000 tonnes, from 209,000 tonnes in the year-earlier period.
Vedanta, which sold 5 million tonnes of iron ore in the third quarter last year, recorded no iron ore sales this year owing to mining bans in the western Indian state of Goa and the southern state of Karnataka.
Shares in the company, a FTSE 100 constituent, closed at 1164 pence on Wednesday. They have gained about 12 percent in value since the end of the first quarter in September.
Most Popular Slideshows
- Real Life ‘Frozen’: Snow Overwhelms The US, Kills 7; More To Come (Pictures)
- Angelina Jolie, Brad Pitt in Sydney for ‘Unbroken’ Red Carpet Premiere [PHOTOS]
- ‘The Walking Dead’ Season 5, Episode 8 Spoilers: Daryl Dixon Is Set To Burn The Place Down in ‘Coda’
- G20 Summit Awkward Moments: Putin Yawns, Mystery Bubbles Appear, F18 Drama Ensues
Join the Conversation
- Air Canada Expands Vancouver Boeing 787 Dreamliners To Beijing, Seoul, Shanghai, Tokyo-Narita Routes
- Canada Consumer Alert: Tim Hortons Prices Of Coffee, Sandwiches To Go Up Effective Nov 26
- Doomsday Seed Vault Safeguards More Marijuana Seeds
- Product Recall: Graco Recalls Baby Strollers in Canada, U.S. Due To Amputation Risks
- Travel Alert: Malaysia’s AirAsia Cuts Number Of Australian Flights
- Walmart Early Price Matching Special Event On Nov. 21, 2014 Matches Its Competitors' Black Friday 2014 Prices And Includes Exclusive Deals For Samsung LED HDTVs And iPad Air 2 [WATCH VIDEO]
- US Plane Flying Over Russian Skies Spotted; Vladimir Putin Ready For 'Practical Cooperation' With US
- Alleged 'Microsoft Lumia 1030' Front Panel Leaked With Capacitive Buttons; 'Xbox One' Owners To Get Free Goodies On Anniversary
- Nexus 6 Release Date And Price Under AT&T, T-Mobile And Sprint Listed
- Walmart Pre-Black Friday 2014 Sale On Nov. 21, 2014 Includes Discounts On The 'NBA 2K15' For PS4 And The 'Skylanders Trap Team’ Starter Kit [WATCH VIDEO]
- Black Friday 2014 Sale: Top Deals On Game Consoles Xbox One, PS4, Nintendo Wii U And More
- Cold War 2: Russia, China And North Korea’s Blacklisted Company Fortify Alliance -- Reports