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Miner Vedanta's first-half profit jumps 37 pct on higher output, prices
November 10, 2017 / 7:18 AM / a month ago

Miner Vedanta's first-half profit jumps 37 pct on higher output, prices

Nov 10 (Reuters) - Diversified miner Vedanta Resources’ said its half-year profit rose 37.4 percent, helped by higher commodity prices and production.

Vedanta said on Friday that earnings before interest, tax, depreciation and amortization rose to $1.69 billion in the six months ended Sept. 30, from $1.23 billion, a year ago.

The company, which mines zinc in India, South Africa and Namibia, reported a near 80 percent jump in operating profit from its zinc business, helped by a 42.1 percent jump in total zinc content mined in India. Zinc prices rose on average by more than 33 percent in the six months to Sept. 30. (Reporting by Arathy S Nair in Bengaluru; Editing by Susan Fenton)

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