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Vedanta Resources halts dividend after profit falls

Vedanta Resources halts dividend after profit falls

The company said earnings before interest, tax, depreciation and amortisation fell 39 percent to $1.29 billion for the six months ended September 30.

Photo: Reuters Photo: Reuters

Mining and energy group Vedanta Resources Plc said it would not pay a dividend for the first half, citing the volatility in commodity markets, after reporting a fall in core profit.

The company said earnings before interest, tax, depreciation and amortisation fell 39 per cent to $1.29 billion for the six months ended September 30.

Vedanta Resources, which has interests in oil and gas, iron ore, zinc, copper, power and aluminium, paid a dividend of 23 cents in the first half a year earlier.