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BW Businessworld

Vedanta Third-Quarter Core Earnings Rise

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London-listed oil and mining conglomerate Vedanta Resources Plc's third-quarter core earnings rose 3 per cent, helped primarily by its oil and gas operations in India.

The company, controlled by Indian billionaire Anil Agarwal, said group core earnings or earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased to $1.14 billion in the quarter ended Dec. 31 from $1.11 billion a year earlier.

Revenue fell about 3 per cent to $3.45 billion.

Vedanta simplified its byzantine structure last year when it overhauled its web of subsidiaries and created Sesa Sterlite - an umbrella unit that groups most of its assets.

(Reuters)