Vedanta

Vedanta‘s transformation from a complex jigsaw of inter-locking assets into a streamlined investor-friendly group is almost complete – subject only to approval from the notoriously-slow Indian courts.

In the meantime the Indian natural resources group is keeping shareholders content with a 49 per cent increase to $2.6bn in first-half earnings before interest, tax, depreciation and amortisation (ebitda). While metals prices were weak, oil prices were strong and Vedanta profited handsomely from last year’s acquisition of control of Cairn India. Continue reading »

Quarterly profits at Sterlite Industries, London-listed Vedanta Resources’ India business,  fell by a third on higher costs, depreciation and soaring interest payments, the company announced Wednesday.

This could well be the metals company’s last results announcement without iron ore miner Sesa Goa – billionaire owner Anil Agarwal announced in February he would merge the two companies, both under the Vedanta umbrella. Continue reading »