Vedanta's earnings disappointment a blip, analysts see better days ahead

The September quarter results at Vedanta, the natural resources major, had disappointed the market. Yet, its share price closed with a gain of 0.8 per cent on Thursday -- the results were declared on Wednesday after market hours. One reason could also be that the stock had corrected sharply from its January high of Rs 350, to Rs 210. Analysts say that with the high dividend payout (Rs 17 a share) and with the outlook improving, there could be more gains ahead.Even as revenues were supported by the aluminium and oil & gas businesses, lower zinc volumes and high production costs in both zinc and aluminium took a toll on profit, which fell 46 per cent year-on-year. Zinc India, represented by listed subsidiary Hindustan Zinc, contributed a fifth to the consolidated numbers. Last week, it had reported lower revenue and profit, on the back of softer prices and output. A rise in Zinc International's cost of production proved a further drag.Aluminium (a third of consolidated financials) ..

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