Vedanta Q4 Profit Drops 68% On One-time Charge

Consolidated revenue from operations fell by 5.4% to ₹37,225 crore from ₹39,342 crore during the period under review. The company declared an interim dividend of ₹33 per share for the March quarter.

Vedanta said it incurred a one-time loss of ₹1,336 crore during the quarter, primarily due to an impairment charge of ₹1,218 crore and a special additional excise duty impact of ₹118 crore in its oil and gas business. “We have delivered the highest-ever free cash flow (pre-capex) of ₹28,068 crore, enabling us to reinvest for business growth and provide our valued shareholders with attractive dividends," said Sunil Duggal, chief executive officer at Vedanta.

For the financial year ended March, net profit dropped by 44% to ₹10,574 crore. However, revenue grew by 11% to ₹1.45 trillion in FY23.

“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 towards becoming carbon neutral by 2050 or sooner," Duggal said.