Vedanta Q3 results: Net profit falls 42% to Rs 3,092 cr, declares interim dividend of Rs 12.5/share

Mining conglomerate Vedanta Resources on Friday reported 42% decline in consolidated net profit at Rs 3,092 crore for the quarter ending December 31, 2022 as against Rs 5,354 crore in the year-ago period. The company's revenue from operations stayed nearly flat at Rs 33,691 crore in Q3FY23 as compared to Rs 33,697 crore in Q3FY22. 

The Anil Agarwal-led company announced an interim dividend of Rs 12.5 per share. 

The company's scrip on BSE closed 1.8% lower at Rs 320.45.

Prices of zinc, aluminium have fallen from their peaks by over 15% in 2022 from a year earlier, while total expenses have surged 17%, Vedanta said.

Vedanta's results continue to be impacted by the Indian government's windfall tax on crude oil.

The conglomerate's earnings before interest, taxes, depreciation, and amortisation fell by 35.1% year-on-year.

Aluminium production and refined metal production dropped 2% each.

Last week, Hindustan Zinc, owned by Vedanta Group, reported a fall in quarterly profit, hit by lower zinc prices and silver production.