Vedanta Resources earnings rises 21% on higher output, prices
Source - SMW
Vedanta Resources said it boosted earnings in its fiscal third quarter by 21% on-year, as production volumes and commodity prices both rose.
Ebitda for the three months through December rose to $1.07bn on the back of a 34% Ebitda margin, the company said.
'We are looking forward to a strong fourth quarter, which will enable us to end the year with healthy cash generation,' chief executive Kuldip Kaura said.
'With the continued strength in the commodity markets, combined with Vedanta's attractive commodity mix and exposure to Indian growth, we will deliver superior shareholder returns, while maintaining a strong balance sheet.'