Latest Share Chat

Vedanta Resources Share News (VED)

Vedanta Resources Information

There is currently no data for VED

Higher volumes, prices push Vedanta unit to Q3 profit rise

Tue, 14th Feb 2017 11:01

(ShareCast News) - Third quarter pre-tax profits at Vendanta Resources' main subsidiary rose to INR3,884 crore from INR1,120 crore in 2016 thanks to a recovery in commodity prices combined with an increase in volumes and cost efficiencies.Sales at Vedanta Ltd for the period came in 31% higher year-on-year at INR19,320 crore.Quarter-on-quarter revenue was up 23%, driven by higher volumes from Zinc India, increased volumes at Iron Ore on account of the monsoon season in the second quarter, ramp-up at the Aluminium and Power businesses, and higher metal and oil prices, the company said.This was partially offset by lower volumes from Oil & Gas due to a planned shutdown during the quarter, and the Skorpion mine at Zinc International, Vedanta said.Increased third quarter revenues were the result of higher volumes at Iron Ore due to recommencement of operations, ramp-up of volumes at the Aluminium and Power businesses and higher volumes at Copper India and Zinc India.This was partially offset by lower volumes from Oil & Gas, and Zinc International due to closure of the Lisheen mine, in the third quarter of 2016.Chief executive Tom Albanese said the company's financial position remained "robust" and it continued to strengthen the balance sheet by maximising free cash flow and reducing debt.He added that the Vedanta Limited and Cairn India merger is expected to be completed in the first financial quarter of 2017.

More News

5 Aug 2016 21:25

UPDATE 1-Vedanta Resources aims to close merger with Cairn India in early 2017

* CEO sees most commodities higher by year-end * London shareholder meeting attracts protest (Adds CEO comment, details, background) By Barbara Lewis LONDON, Aug 5 (Reuters) - Mining and energy group Vedanta Resources expects to complete its merger with Cairn India early next

5 Aug 2016 15:03

UK Dividends Calendar - Next 7 Days

1 Aug 2016 07:47

Vedanta reports stable production in first quarter

(ShareCast News) - Vedanta Resources posted its production numbers for the first quarter to 30 June on Monday, with production stable and the contribution from Mangala Enhanced Oil Recovery - the world's largest polymer EOR program - increasing to 42 kboepd. The FTSE 250 firm reported Rajasthan wate

25 Jul 2016 15:11

UK Earnings, Trading Statements Calendar - Next 7 Days

22 Jul 2016 14:54

Vedanta sweetens Cairn India deal terms after takeover delayed

* Offers 1 share and 4 redeemable shares for each Cairn share * Vedanta's initial deal stymied for a year * New offer to be put to vote in September * Cairn India shares rise 8.7 percent ahead of announcement * Vedanta Ltd shares gained 7.4 percent By Promit Mukherje

22 Jul 2016 11:53

Vedanta Resources Agrees Terms On Indian Subsidiaries Merger

21 Jul 2016 17:26

Vedanta Resources Says Cairn India Net Profit Up In First Quarter

20 Jul 2016 16:04

Vedanta's Hindustan Zinc Sees First Quarter Profit Slump

14 Jul 2016 09:07

Vedanta Resources redeems $514.8m bonds

(ShareCast News) - Vedanta Resources has repaid in full and redeemed $514.8m in convertible bonds due on 13 July. With this redemption of the 5.5% convertible bonds, all outstanding USD bond maturities due in full-year 2017 at Vedanta have been repaid, apart from the $8m of 4% convertible bonds due

14 Jul 2016 06:54

Vedanta Clears Most Of Bonds Due This Year With USD515 Million Payment

13 Jul 2016 14:17

DIRECTOR DEALINGS: Vedanta Executive Sells 2,000 Shares

12 Jul 2016 08:32

BROKER RATINGS SUMMARY: Vodafone Cut To Neutral, ITV Raised To Neutral

11 Jul 2016 09:48

WINNERS & LOSERS SUMMARY: CLS Holdings Up As It Buys In Germany

8 Jul 2016 12:01

Vedanta injects $400m into South Africa operation

(ShareCast News) - India-focused natural resources company Vedanta Resources announced an expansion of its footprint into Africa on Friday. The FTSE 250 firm already has a long-standing presence in Africa, having invested more than $4bn in its operations on the continent since 2004. Vedanta said it

8 Jul 2016 10:17

Latest Share Chat

Vedanta Resources Share News (VED)

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Higher volumes, prices push Vedanta unit to Q3 profit rise

Login to your account

Quickpicks are a member only feature

Login to your account