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Vedanta third-quarter core earnings rise

Reuters - UK Focus

Jan 31 (Reuters) - London-listed oil and mining conglomerate Vedanta Resources Plc (Other OTC: VDNRF - news) 's third-quarter core earnings rose 3 percent, helped primarily by its oil and gas operations in India.

The company, controlled by Indian billionaire Anil Agarwal, said group core earnings or earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased to $1.14 billion in the quarter ended Dec. 31 from $1.11 billion a year earlier.

Revenue fell about 3 percent to $3.45 billion.

Vedanta simplified its byzantine structure last year when it overhauled its web of subsidiaries and created Sesa Sterlite - an umbrella unit that groups most of its assets.