Vedanta Limited’s March quarter profit fell by 5 per cent due to higher expenses
New Delhi:
Vedanta Ltd on Thursday reported about 5 per cent decline in its consolidated profit after tax (PAT) at Rs 7,261 crore in the March 2022 quarter on account of higher expenses.
Its PAT was Rs 7,629 crore in the same quarter of 2020-21, Vedanta Ltd said in a press statement.
However, during the January-March period, the company’s “PAT before exceptional item and one-time tax credit” increased 48 per cent to Rs 7,570 crore against Rs 5,105 crore in the year-ago period, as per the statement.
The company’s revenue from operations in the period under review also rose to Rs 39,342 crore from Rs 27,874 crore a year ago.
Vedanta Ltd’s expenses stood at Rs 29,901 crore in the quarter against Rs 22,549 crore in the year-ago period.
“(In FY22) we have delivered historical best EBITDA of Rs 45,319 crore and PAT (before exceptional and one-time tax credit) of Rs 24,299 crore. This reflects our relentless focus on volume growth and operational efficiency, underpinned by structural integration and technology adoption.
“The strong free cash flow of Rs 27,154 crore has allowed us to reinvest for growth, further strengthen our balance sheet and continue our attractive dividend pay-out,” Sunil Duggal, Chief Executive Officer, Vedanta, said.
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