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Anil Agarwal-led Vedanta Ltd on Thursday reported an 18.3 per cent fall in its consolidated net profit at Rs 2,013 crore in the quarter that ended on December 31, 2023 (Q3FY24) as compared to Rs 2,481 crore in the same quarter in 2022. In the previous quarter, Q2FY24, the company had reported a loss of Rs 1,866 crore.
The revenue of the company was up 4 per cent to Rs 34,968 crore during the quarter. It was the company's highest Q3 revenue ever.
"Our strategic focus on substantial cost compression, paralleled by an impressive production ramp-up across businesses, has helped us to deliver remarkable performance," said Arun Misra, executive director at Vedanta.
During the quarter, the company paid dividends worth Rs 4,089 crore.
"Our five-year average dividend yield stands 10 times higher than Nifty 50 companies. With a balanced capital structure through successful liabilities management at Holdco, Vedanta has a stronger balance sheet and will remain committed towards deleveraging and value creation," said Ajay Goel, chief financial officer at Vedanta.
The company also announced that its EBITDA margin was up by 507 basis points (bps) to 29 per cent in Q3FY24 as compared to Q3FY23. As compared to the previous quarter, the margin was up 438 bps.
The company's shares closed 0.4 per cent in the green at Rs 263.55 apiece on BSE.
