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This is an archive article published on January 27, 2011

Vedanta Q3 EBITDA jumps 35 pct

Vedanta posted a 35 pct jump in Q3 core earnings on Thursday,driven by strong metals prices.

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Mining group Vedanta Plc posted a 35 per cent jump in third quarter core earnings on Thursday,driven by strong metals prices and higher output after buying zinc operations from Anglo American.

The London-listed firm said in a trading update that earnings before interest,tax,depreciation and amortisation (EBITDA) increased to a record $895.4 million in the three months to end-December from $662.5 million a year ago.

Sales rose 44 per cent to $3.077 billion.

Third-quarter output of refined zinc,Vedanta’s most profitable product,rose 20 per cent to 178,000 tonnes,helped by the acquisition of Anglo’s Skorpion mine in Namibia.

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Production of iron ore dipped 2 per cent to 5.3 million tonnes and sales were hit by a monsoon and transport problems.

In November,Vendata posted an 81 per cent jump in first half earnings per share and said it was working on possible listings of its energy and Zambian copper units.

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