Vedanta more than doubles its Ebitda

Billionaire Anil Agarwal-promoted Vedanta Resources said its Ebitda (Earnings before interest, tax, depreciation and ammortisation) for the first quarter ended June 30 grew 124 per cent to $794 million (Rs 3,692 crore) as the production of its three most profitable metals rose.

The company recorded $355 million (Rs1,650 crore) of Ebitda in the corresponding quarter of the previous year. The revenue for the company in the first quarter rose to $2,383 million (Rs 11,080 crore), a 75 per cent rise from the corresponding period of the previous year, said the company in a statement.

The company has not announced its full result yet. Production for saleable iron ore in the first quarter increased to 6.4 million tonnes, a 31 per cent rise from the corresponding quarter of the previous year. Iron ore is its most profitable product. Vedanta gets its production of iron ore from Sesa Goa. The production of refined zinc, its second most profitable metal, rose 19 per cent to 165,000 tonnes. The London-listed company gets its zinc production from Hindustan Zinc.

Aluminium output in the period grew 13 per cent to 141,000 tonnes. Bharat Aluminium Company and Vedanta Aluminium are the two main companies producing the aluminium for Vedanta.

The copper production for the company from India and Australia was steady at 7,000 tonnes of mined metal content.

Sterlite Industries, the subsidiary of Vedanta, produces copper.