Financial Daily from THE HINDU group of publications
Saturday, Jan 21, 2006
Financial Daily from THE HINDU group of publications Saturday, Jan 21, 2006 |
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Corporate Results
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Metals Vedanta Resources sees 78 pc rise in Q3 group revenues Our Bureau
Mumbai , Jan. 20 GROUP revenues of Vedanta Resources Plc for the third quarter were $974.7 million, higher by 78 per cent over the year-ago period. For the nine-month period revenues grew by 92 per cent to $2359.3 million. Higher production volumes with rising metal prices contributed to the improved performance, the company said. The earnings before interest, tax, depreciation and amortisation (EBITDA) for the third quarter stood at $264.6 million, up by 121 per cent. EBITDA has increased during the current quarter due to improved TC/RCs together with better metal recoveries and by-product management, partly offset by an increase in energy costs and a reduction in tariffs. Production of aluminium rose by 77 per cent to 60,000 tonnes, copper by 60 per cent to 75,000 tonnes and zinc up 26 per cent to 69,000 tonnes. "Our growth projects are all on track and we continue to improve on our volumes and efficiencies," the release said quoting Mr Anil Agarwal, Executive Chairman, Vedanta Resources Plc.
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