Vedanta Posts FY Loss

India's Vedanta Resources plc VDNRF reported a loss for the financial year ended March 31, 2015. Vedanta posted a quarterly net loss of $1.8 billion for the year, or 654.5 US cents per share, versus a year-ago loss of $196 million, or 71.7 US cents per share. The latest quarter results included an impairment of $4.5 billion. Excluding special items, the company's profit before tax declined 12 percent to $1.10 billion, while profit after tax dropped 32 percent to $751 million. On an underlying basis, Vedanta's attributable loss came in at $38.9 million, versus a year-ago profit of $40.2 million. Underlying loss per share came in at 14.2 US cents, versus a profit of 14.7 US cents. Its revenue slipped 0.5 percent to $12.88 billion from $12.95 billion, while earnings before interest, taxes, depreciation, and amortization declined 16.7 percent to $3.7 billion. The company declared a final dividend of $0.40 per share. Chairman Anil Agarwal said, "In FY2015 we have delivered robust operational performance, achieving record production at Zinc-India, Aluminium and Copper-India while setting the stage for continued ramp up of our new Aluminium smelters and Iron Ore operations in FY2016."