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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Vedanta Resources    VED   GB0033277061

VEDANTA RESOURCES (VED)
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Delayed Quote. Delayed  - 05/25 05:35:04 pm
728.2 GBp   -0.38%
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Vedanta Earnings Up; Natural Resources Outlook Remains Robust

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05/17/2012 | 08:54am CEST

By Alex MacDonald

Of

U.K.-listed, India-focused Vedanta Resources PLC (>> Vedanta Resources plc) Thursday said its outlook for natural resources remains robust as it reported higher earnings for the last fiscal year, buoyed by its foray into oil and gas and higher output in silver, alumina, aluminium and power.

The FTSE-100 diversified miner said revenue for the 12 months ending March 31, 2012, rose 23% to $14 billion while its keenly watched earnings before interest, taxes, depreciation and amortization, or Ebitda, rose 13% to $4 billion, in line with analysts' expectations of $4 billion, according to a Dow Jones Newswires poll of four analysts.

Net profit attributable to equity shareholders dropped to $59.8 million from $771 million, missing analysts' expectations of $245 million. The drop was largely due to increased amortisation and depreciation charges and interest expenses related to funding of its purchase of a majority stake in Cairn India Ltd. (532792.BY).

Vedanta is now India's largest private sector oil company after acquiring a majority stake in Cairn India for $8.7 billion last year. It has expanded its operations rapidly over the past several years to benefit from growing commodities demand in the emerging markets, particularly India.

"This has been a transformational year for the group, in which we completed the Cairn India acquisition, announced the consolidation of the group, and delivered strong production growth," said Vedanta's Chairman Anil Agarwal. "With our growth projects largely completed, [we] are well placed to continue this strong growth."

Most of the company's divisions reported previously with the exception of its majority-owned copper unit, Zambian Konkola Copper Mines, which reported a 12% Ebitda decline on the year to $387.9 million.

The company announced a full-year dividend of 55 cents a share, up from 52.5 cents in the same period a year before.

Vedanta's shares closed Wednesday up 1.3% or 13 pence at 1,026 pence a share, resulting in a market capitalization of GBP3.05 billion. The company's shares are up 1.1% since the beginning of the year compared with the FTSE 350 mining index, which is down 9.6% since the beginning of the year.

-By Alex MacDonald, Dow Jones Newswires; 44 20 7842 9328; [email protected]

Stocks mentioned in the article : Vedanta Resources plc, Vedanta Resources plc
Stocks mentioned in the article
ChangeLast1st jan.
CAIRN INDIA LIMITED 0.00%-End-of-day quote.17.65%
HINDUSTAN ZINC LTD 1.79% 289.95 End-of-day quote.-7.73%
VEDANTA RESOURCES -0.38% 728.2 Delayed Quote.-9.48%
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Financials ($)
Sales 2019 17 122 M
EBIT 2019 3 836 M
Net income 2019 167 M
Debt 2019 8 188 M
Yield 2019 6,86%
P/E ratio 2019 8,45
P/E ratio 2020 4,51
EV / Sales 2019 0,63x
EV / Sales 2020 0,46x
Capitalization 2 659 M
Chart VEDANTA RESOURCES
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Vedanta Resources Technical Analysis Chart | VED | GB0033277061 | 4-Traders
Technical analysis trends VEDANTA RESOURCES
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 12,1 $
Spread / Average Target 25%
EPS Revisions
Managers
NameTitle
Kuldip Kumar Kaura Chief Executive Officer
Anil Kumar Agarwal Executive Chairman
G. R. Arun Kumar Chief Financial Officer
Navin Kumar Agarwal Executive Vice Chairman
Geoffrey Green Independent Non-Executive Director
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