Mining company Vedanta's fourth quarter profit declined by 27%: Income also fell by 6.4% to ₹ 35,509 crore, share gave 42% return in the last one month.

On Thursday, April 25, the mining corporation Vedanta Limited disclosed the results of Q4FY24, or the fourth quarter of the 2024 fiscal year. The company's net profit for the January-March quarter decreased by 27.4% year over year (YoY) to ₹ 2,273 crore.

The company's net profit for the same quarter in the previous year (Q4FY23) was ₹3,132 crore. It was ₹2,868 crore in the third quarter of FY24, however. This indicates that during the fourth quarter, the company's net profit on a quarterly basis (QoQ) decreased by 20.47%.

In the fourth quarter, Vedanta made ₹ 35,509 crore.

Vedanta's revenue for the fourth quarter of 2018 decreased to ₹ 35,509 crore from ₹ 37,930 crore, a 6.4% year-over-year decline.

In contrast, the company's income for the third quarter of FY24 was ₹34,968 crore. This indicates that, in comparison to the third quarter, the company's income climbed by 1.54% in the fourth quarter.
Within a month, Vedanta provided investors with a 42% return.

Vedanta's stock dropped 1.16% today, closing at Rs 379. The company is valued at Rs 1.41 lakh crore on the market. Over the past month, the company has returned 42% of investor capital. The last six months have seen a 78.56% increase in the share. In the past year, it has returned 37.22%.

Vedanta's founder and chairman is Anil Aggarwal.

One of the biggest producers of zinc, lead, aluminum, and silver worldwide is Vedanta. Anil Aggarwal, the company's founder and chairman, is referred to as the Metal Man of India. Sunil Duggal is its Chief Executive Officer (CEO).