Vedanta to pay Rs 117.1 billion in dividends as Q4 profit drops

Shares of Vedanta fell 0.2% in Mumbai on Thursday before the earnings were published, paring the year's gains to 21%.

Vedanta Ltd. will pay 117.1 billion rupees ($1.5 billion) in dividends to shareholders even as its quarterly profit fell for the first time in six quarters due to elevated raw material costs.

Vedanta will pay a dividend of 31.50 rupees a share to investors, it said in an exchange filing Thursday. Meanwhile, group net income dropped nearly 10% from a year earlier to 58 billion rupees in the January to March period, billionaire Anil Agarwal’s company said. 

That would be the first year-on-year decline in earnings since the quarter ended September 2020. It also missed analysts’ estimate of 62.4 billion rupees.

Sales advanced