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

Delayed Quote. Delayed  - 09/29 12:01:56 pm
592.5 GBp   +4.87%
09/26 VEDANTA : Signs Concession Agreement for redevelopment of Mormugao P..
09/26 VEDANTA RESOURC : Notice of Q2 production release
09/16 VEDANTA RESOURC : Deutsche Bank Conference Presentation, 14 Sept 201..
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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; alex.macdonald@dowjones.com

Stocks mentioned in the article : Vedanta Resources plc, Vedanta Resources plc
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Latest news on VEDANTA RESOURCES PLC
09/26 VEDANTA : Signs Concession Agreement for redevelopment of Mormugao Port
09/26 VEDANTA RESOURCES : Notice of Q2 production release
09/16 VEDANTA RESOURCES : Deutsche Bank Conference Presentation, 14 Sept 2016
09/14 Moody's upgrades Vedanta Resources' CFR to B1 from B2; outlook stable
09/13 VEDANTA : drives literacy in rural India
09/12DJCairn India Shareholders Back Tie-Up With Vedanta-Update
09/12DJCairn India Shareholders Back Tie-Up With Vedanta
09/12 VEDANTA RESOURCES : Cairn India approves merger with Vedanta Ltd
09/10 VEDANTA RESOURCES : Shareholders, creditors approve cairn india merger
09/09DJVedanta Ltd Shareholders Approve Cairn India Merger
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Financials ($)
Sales 2017 11 373 M
EBIT 2017 1 308 M
Net income 2017 -99,0 M
Debt 2017 7 746 M
Yield 2017 4,11%
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 0,86x
EV / Sales 2018 0,68x
Capitalization 2 037 M
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Mean consensus HOLD
Number of Analysts 9
Average target price 6,07 $
Spread / Average Target -18%
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NameTitle
Thomas Albanese Chief Executive Officer & Executive Director
Rajesh Padmanabhan President & Group Chief Human Resources Officer
Anil Kumar Agarwal Executive Chairman
Din Dayal Jalan Chief Financial Officer
Navin Kumar Agarwal Executive Vice Chairman
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