Vedanta titan in the metal and mining industry, nodded to its fourth interim dividend on Monday, paying out Rs 8.5 per share for the fiscal year 2024–2025.
Today’s statement came after market hours. Furthermore, India Ratings and Research Private Limited has retracted the rating on commercial paper and raised the ratings on non-converting debentures (NCDs) to ‘IND AA-/Rating Watch with Developing Implications,’ according to Vedanta.
Compared to the previous finish of Rs 519.70 on the BSE, Vedanta’s shares closed 1.21 per cent down at Rs 513.40. Early transactions on the BSE also saw it reach a record high of Rs 527.
The firm’s market capitalisation dropped to Rs 2 lakh crore. A transaction of Rs 41.21 crore was recorded on the BSE from the sale of 7.99 lakh shares of the company.
Company’s exchange filling
‘We would like to notify you that the Fourth Interim Dividend of Rs 8.5/- per equity share on face value of Rs 1/- per equity share for the Financial Year 2024-25, totalling Rs 3,324 Crores, was considered and approved by the Board of Directors of Vedanta Limited (the ‘Company’) at its meeting today, Monday, December 16, 2024.
As previously said, Tuesday, December 24, 2024, will be the record date for dividend payments, and the interim dividend will be paid in accordance with the legal deadlines,’ Vedanta stated.
Vedanta’s Q2 FY25
According to an exchange report on Friday, the metal producer’s net profit for the quarter ending in September 2024 was Rs 5,603 crore, up from a loss of Rs 915 crore in the same time last year.
This contrasts with the analysts’ forecast of Rs 2,378.2 crore that Bloomberg surveyed. A deferred tax of Rs 1,868 crore was included in the second quarter’s earnings. A 60 per cent yearly decline in oil and gas revenue and a 30 per cent decline in iron ore sales had the most effects on revenue growth.
The cost of materials consumed increased by 16 per cent year over year, which had an effect on the company’s consolidated profits before interest, taxes, depreciation, and amortisation.
