Vedanta Ltd Q4 results: Net profit falls 56% to ₹2,634 crore; company declares Rs 33/share dividend
Vedanta Limited’s net profit declined by 56.3 percent in the March quarter FY 23. The company gave this information on Friday, May 12, while releasing the results of the March quarter of FY 2023. Vedanta reported that its net profit declined to Rs 2,634 crore in the March quarter, compared to Rs 6,027 crore in the corresponding quarter of the previous financial year. At the same time, the company’s revenue fell 5.4 percent to Rs 37,225 crore in the March quarter, while the company’s revenue was Rs 39,342 crore in the same quarter of the previous financial year. The company’s operating profit (EBITDA) declined by 33.4 per cent to Rs 8754 crore in the March quarter.
Sunil Duggal, CEO, Vedanta said, “We have generated the highest ever free cash flow (pre-capex) of Rs 28,068 crore, which allows us to reinvest in the business to grow and to the valuable shareholders.” This has helped a lot in providing excellent dividends to the holders.
He said that we have finalized 1868 MW renewable energy distribution agreements. Which brings us one step closer towards becoming carbon neutral by the year 2050 or before the year 2050.
Along with this, Vedanta has declared the fourth and fifth interim dividend for the financial year 2023. The company said that it has been decided to pay the fourth and fifth interim dividend of Rs 12.50 and Rs 20.50 respectively to the eligible shareholders. For fifth interim dividend of ₹20.50 per share, the record date was fixed on 7th April 2023. With this, the dividend amount distributed on each share by Vedanta in the financial year 2023 was Rs 101.50.
