Vedanta's Core Earnings Jump on Oil and Gas Boost
January 31, 2013 8:24 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
- Kristen Stewart Moving On With Nicholas Hoult, Jennifer Lawrence Dating Chris Martin – Reports [PHOTOS]
- Kate Middleton Suffocated in Kensington Palace, Queen Elizabeth Reported War With The Duchess [PHOTOS]
- Chris Martin Dating Reports: Jennifer Lawrence Vs Gwyneth Paltrow [PHOTOS]
- 9/11 Dust Cloud Most Likely Have Created Pregnancy Issues: Celebrities Who Posed Nude During Pregnancy
Join the Conversation
- Apple Inc. Stock Surge Observed as Hedge Funds 'Feasted' Ahead of iPhone 6 Launch
- Small Businesses Claim Positive Financial Situation but Negative on Outlook
- Perfume Maker Elizabeth Arden Blames Poor Q4 Financial Results on Justin Bieber Scent
- Companies Push Back IPO Plans Due to Mega Alibaba Share Launch
- Saudi Arabia: Brothers Beheaded For Smuggling Marijuana Into The Kingdom
- ISIS: More Journalists Beheading To Come After James Foley and Steven Sotloff [Video]
- Moto X+1 is Likely Nexus 6 Template; Motorola Shamu is 1st Android Silver with Snapdragon 810 – Reports
- James Foley’s Executioner Has British Accent—A Chilling Reminder That ISIS Has Foreign Members
- ISIS Posts Graphic Beheading Video of US Journalist James Foley
- iPhone 6 Release Date Remains On Course for Sept-Oct 2014 as Apple Delays iWatch Debut to 2015
- Nexus 6 Release Date Dilemma with Motorola Shamu Details Pointing to Better Smartphone and Killer Features