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Vedanta Reports 92% Drop In First-Half Net Profit

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Vedanta Resources PLC (OTC: VDNRF) reported a 92% decline in its first half net profit.

Vedanta's net profit attributable to shareholders for the quarter ending Sepember 30, 2011 fell to $28 million, versus $337 million, in the year-earlier period. However, analysts were expecting a net profit of $385 million.

On an operating basis, Vedanta's earnings before interest, taxes, depreciation and amortization (EBITDA) surged 27% y/y to $1.71 billion, versus analysts' estimates of $1.72 billion.

Vedanta's shares closed at $19.98 yesterday.

Posted-In: EarningsEarnings News

 

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