Vedanta group & Maytas Infra result

London-listed Vedanta Resources has reported a net profit of $337 million for the first half of the current financial year, as against $188.2 mn for the same period last year. Revenues registered a 54 per cent jump, at $4.6 bn for the first six months of 2010-11. Anil Agarwal, Chairman of Vedanta Resources Plc, said, “The combination of record volumes and higher metals’ prices led to a rise in revenues and profitability during the first half of this year.”

The company also announced its intentions to list Sterlite Energy in India and Konkola Copper Mines (KCM) in Zambia. Vedanta, in a conference call, said KCM might be listed during the current year to unlock its value.

Maytas Infra narrows net loss to Rs 52.66 cr

Maytas Infra on Thursday reported a net loss of Rs52.66 crore for the quarter ended September 30, compared to a net loss of Rs528.79 crore in the corresponding period last year.

Net income rose two per cent to Rs178.51 crore, compared to Rs174.92 crore in the year-ago quarter.

The financial results include the company’s net share profit aggregating Rs1.17 crore from integrated joint ventures.

The Hyderabad-based infrastructure company said it was confident of recovering the inter-corporate deposits with interest from Mahindra Satyam.

The company has claimed Rs323.78 crore from Mahindra Satyam.