Indian miner Vedanta Resources has announced its financial results for the first half ended on September 30 of the financial year 2012-13.
While Vedanta's profit after tax increased by 61.5 percent to $937.5 million compared to the corresponding period of the previous financial year, the company registered revenue of $7.5 billion, up 14 percent year on year. In the given period, the company's EBITDA increased by 49 percent to $2.6 billion compared to the first half of the previous financial year.
According to Vedanta's statement, its sales of iron ore were 3.1 million mt in the first half, compared to 5.8 million mt in the same period of the previous year. The iron ore operations were affected by the mining ban in Karnataka, a temporary restriction on iron ore extraction in Goa and transportation restrictions in South Goa.
Vedanta stated that the expansion of pig iron capacity to 625,000 and the associated metallurgical coke capacity was successfully commissioned during the second quarter.