Vedanta shares fall ahead of Q4 results, here are more details

The shares of metal and mining company Vedanta was down by 1.70 per cent on BSE at ₹276.75. The stock is down 12 per cent year-to-date.

Vedanta Ltd reported 42 per cent decline in consolidated net profit to ₹3,092 crore for the December 2022 quarter. This is against a net profit of ₹5,354 crore in the year-ago period, while the consolidated revenue declined by 0.017 per cent to ₹33,69 crore in the quarter under review from ₹33,697 crore a year ago.

The board of directors of Vedanta has approved the fourth interim dividend of ₹12.50 per equity share, in the December quarter.

Kotak Institutional Equities sees profit falling 55 per cent to ₹2,618 crore. It sees sales falling 12 per cent to ₹35,072 crore.

“We forecast Aluminium Ebitda to decline 68 per cent YoY but increase 76 per cent QoQ mainly led by lower costs and marginal improvement in realisations/volumes; Oil and Gas division to witness 7.6 per cent QoQ drop in Ebitda due to windfall tax and lower crude prices during quarter and Zinc India division to see 16 per cent QoQ increase in Ebitda on the back of record yearly volumes,” Kotak said.

Recently, Vedanta Ltd has appointed Terry Daly as an advisor for its semiconductor business, the company announced on Tuesday. Daly will provide strategic counsel and inputs as Vedanta looks to establish a state-of-the-art semiconductor fab unit and semiconductor assembling and testing unit in India.