Vedanta on Friday reported an 80 per cent year-on-year (YoY) decline in its consolidated net profit at Rs 3,132 crore in the quarter ended on 31 March 2023, against Rs 7,261 crore last year in the same quarter.
Its consolidated revenue from operations also fell 5 per cent YoY at Rs 37,225 crore, compared to Rs 39,342 crore in Q4FY22. However, the revenue increased 10 per cent quarter-on-quarter (QoQ) against Rs 33,691 crore in Q3FY23.
According to the company, in the zinc sector, it recorded a significant increase in mined metal production, reaching 1,062 kilotons and marking a 4 per cent YoY growth. The refined metal production also achieved 1,032 kilotons, showing a remarkable 7 per cent YoY increase.
In the oil and gas sector, the company signed a 10-year extension to its production-sharing contract, allowing the company to continue operating the Rajasthan oil block, as per the company.
The company declared an interim dividend of Rs 33 per share in 4QFY23.
“We have delivered the highest-ever free cash flow (pre-capex) of Rs 28,068 crore, enabling us to reinvest for business growth and provide our valued shareholders with attractive dividends,” said Sunil Duggal, Chief Executive Officer, Vedanta.
“Our progress on ESG transformation has been recognized by leading rating agencies, making it a remarkable year for us. We finalized 1868 MW renewable power delivery agreements which brings us one step closer to becoming carbon neutral by 2050 or sooner,” he added.
