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Vedanta profits soar almost 50pct
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Thursday, 08 Nov 2012
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India focused miner Vedanta reported an almost 50% jump in H1 profit boosted by record output from subsidiary Cairn India.

Earnings before interest, tax, depreciation and amortization for the 6 months to September came in at USD 2.6 billion helped by production at Cairn India which it acquired last year.

Zinc profits fell 27% over the period while profits from iron ore and copper dropped 63 and 28% respectively.

Mr Anil Agarwal chairman of Vedanta said that “We are operating in challenging market conditions with tapering global growth and emerging markets continue to be the major contributor to growth. With well invested assets and a diversified portfolio across metals and oil & gas we are strongly positioned to deliver industry leading production growth across our portfolio of diversified tier-1 assets.”

Source - Cityam.com

(www.steelguru.com)

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