August 6, 2018 / 6:34 AM / Updated 24 minutes ago
Vedanta's quarterly core earnings rise; India copper output drops
(Reuters) - Miner Vedanta Resources Plc, which is set to taken private by Chairman Anil Agarwal, reported on Monday a 26.3 percent rise in first-quarter core earnings on higher commodity prices.
FILE PHOTO: A bird flies past the logo of Vedanta installed on the facade of its headquarters in Mumbai, January 31, 2018. REUTERS/Danish Siddiqui/File Photo
The London-listed company’s earnings before interest, taxes, depreciation and amortization (EBITDA) rose to $983 million, for the three months ended June 30, from $778 million a year earlier.
However, its copper production from India fell 73.3 percent in the quarter after the company closed its facility in southern India earlier this year.
Reporting by Muvija M in Bengaluru; Editing by Amrutha Gayathri
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