This company declares interim dividend of Rs 31.5; share price just above Rs 400
Vedanta Ltd. reported a net profit of Rs. 7,261 crore net profit. The company’s profit declined by 5 per cent as compared to the March 2021 quarter. In the March 2021 quarter, the company made Rs 7,628 crore profit. The board of Vedanta approved the first interim dividend for FY 2022-23 of Rs 31.5. Shares of Vedanta Ltd fell 0.35 per cent to close at Rs 409.40. In the January-March 2022 quarter, the company’s revenue from operations grew 41 per cent to Rs. 39,342 crore. Vedanta said that it had invested Rs. 13,768 crore. The company reported its highest ever consolidated EBITDA. It has grown by 51 per cent on a yearly basis and 26 per cent on a quarterly basis.
This growth is driven by higher sales volume, ancillary item prices and operational efficiencies. During the March 2022 quarter, Vedanta Limited’s net debt stood at Rs. 20,979 crores. As of December 31, 2021, the net debt is Rs. 6,590 crores. Sunil Duggal, CEO, Vedanta, said, ‘It gives me immense pleasure to share that we have delivered historical best EBITDA of Rs 45,319 crore and PAT (before exceptional and one-time tax credit) of Rs 24,299 crore. This reflects our relentless focus on volume growth and operational efficiency, underpinned by structural integration and technology adoption.’
Vedanta had declared its results for Q4 quarter ending March 31, 2022 on Thursday.
