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Vedanta Resources Posts Bumper Profits

Vedanta Resources (LSE: VED) has posted a 79% growth in net profit to $337 million for the first half ending on September 30, 2010 as compared to $188.2 million in the corresponding period last year. The operating profit was also higher for the company.

The metal and mining company has seen its revenues during the first half of the year rise to $4.58 billion. This is a 53.8% rise as compared to the revenue generated in the first half of 2009 which stood at $2.97 billion. Revenue from aluminium, copper, zinc, iron ore and energy has increased over the past year.

The Chief Executive Officer of Vedanta Mahendra Mehta said that the firm was also evaluating the possibility of listing its subsidiaries Sterlite Energy and the Zambian Konkola Copper Mine it owns. Mehta also feels that the listing for the copper mine may take place in the current year itself.

Anil Agarwal, the chairman of Vedanta Resources said that they remain focused on delivering a strong organic growth programme and were well placed to benefit from the India’s tremendous growth prospects.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.


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