Vedanta Resources Reports 11.6% Revenue Decline In FY13/14


News: UK-based Vedanta Resources reported a 11.6% year-on-year (y-o-y) fall in revenue to USD12.9bn in FY13/14 ended March 31 2014, compared with USD14.64bn in FY12/13. Vedanta's EBITDA dropped 8.5% to USD4.5bn due to factors such as lower commodity prices, reduced volumes at its Zambia copper operations and international zinc business, lower sales generated by its iron ore business and the temporary shutdown of the Sterlite copper smelter in India. The company's net attributable loss for FY13/14 stood at USD196mn against a profit of USD162mn in FY12/13.

This article is tagged to:
Sector: Mining
Geography: United Kingdom

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