Vedanta streamlining efforts on track, H1 profit climbs

LONDON Wed Nov 7, 2012 12:48pm IST

Stocks

   

LONDON Nov 7 (Reuters) - India-focused miner Vedanta said on Wednesday that efforts to streamline its sprawling structure were on track to complete this year, brushing off fears of a delay as it reported an almost 50 percent jump in first-half core profit.

Vedanta said earnings before interest, tax, depreciation and amortisation (EBITDA) for the six months to the end of September came in at $2.6 billion, exactly in line with market forecasts, as Cairn India, acquired last year, offset the impact of weaker profits from zinc and iron ore.

Vedanta's iron ore production has been hit by a year-long ban on mining in the Indian state of Karnataka and more recent restrictions on the transport and extraction of iron ore in Goa, India's second-biggest iron ore producing state.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Infrastructure

REUTERS SHOWCASE

Big Infra Deal

Big Infra Deal

Piramal, Dutch APG tie up for $1 bln infra investment  Full Article 

L&T Slumps

L&T Slumps

L&T earnings raise 'multiple red flags' - Citi  Full Article 

Twitter Results

Twitter Results

Twitter assuages growth concerns for now as shares soar 35 percent  Full Article 

Auto Sector

Auto Sector

VW closes in on Toyota as global auto leader  Full Article 

E-Commerce

E-Commerce

Amazon says to invest $2 billion more in India   Full Article 

Fed Meeting

Fed Meeting

Fed seen trimming bond buys, could offer vague rate clues  Full Article 

Gaza Conflict

Gaza Conflict

Israel strikes house of Hamas Gaza leader, digs in for long fight.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage