The Business Bytes
TBB BUREAU
MUMBAI, APRIL 28, 2022
Vedanta Ltd on Thursday reported a 48 per cent increase in its “PAT before exceptional item and one-time tax credit” to Rs 7,570 crore for January-March (Q4FY22) quarter of FY 2021-22 as against Rs 5,105 crore in the year-ago period.
The company reported the highest ever quarterly EBITDA of Rs 13,768 crore for the January-March 2022 period, recording a growth of 51 per cent year-on-year.
The company’s revenue from operations rose to Rs 39,342 crore in the fourth quarter of 2021-22 from Rs 27,874 crore recorded in the year ago quarter, posting a growth of 41 per cent.
Vedanta Ltd’s expenses stood at Rs 29,901 crore in the quarter against Rs 22,549 crore in the year-ago period.
Commenting on the results Sunil Duggal, Chief Executive Officer, Vedanta Limited, said: “I am delighted to share record operational and financial performance for 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 (pre capex) of Rs 27,154 crore has allowed us to reinvest for growth, further strengthen our balance sheet and continue our attractive dividend pay-out,” he added.
Duggal further said: “As a part of our ESG Journey, we have signed an agreement for 580 MW renewable power distribution which brings us one step closer towards becoming a Net Zero Carbon organization. As we leap forward, we are committed to make Vedanta stronger through growth, vertical integration, operational efficiencies and renewed ESG purpose.”
The company’s Board of Directors approved first interim dividend of Rs 31.5 per equity share for the financial year 2022-23 amounting to Rs 11,710 crore. The record date for the purpose of payment of dividend is May 9, 2022.
Notwithstanding the increase in input commodity prices and power cost, Vedanta’s aluminum output rose to 2,268 kt in FY22, registering a 15 per cengt growth year-on-year while alumina pruduction was at its highest level of 1,968 kt, with a Y-o-Y growth of 7 per cent.
