Vedanta to consider third interim dividend for FY22 on March 2

Vedanta Ltd on Wednesday informed the stock exchanges that its board will meet on March 2 to consider and approve the third interim dividend for financial year 2021-2022.

The record date for determining the entitlement of equity shareholders for the said dividend, if declared, is being fixed as Thursday, March 10, 2022, the company, led by billionaire Anil Agarwal, said in a regulatory filing.

Shares of Vedanta Ltd closed 0.66 per cent higher at Rs 352.35 apiece on the BSE on Wednesday.

Vedanta Ltd had reported a 26.2 per cent rise in consolidated net profit at Rs 4,164 crore for the quarter ended December 31, 2021.

The company had posted a consolidated net profit of Rs 3,299 crore in the year-ago period, Vedanta Ltd said in a filing to the BSE.

Its consolidated income during the October-December period increased to Rs 34,674 crore from Rs 23,621 crore in the year-ago period, the filing said.

Earlier, news agency PTI had reported that Vedanta has earmarked $15 billion for foray into electronic chip and display manufacturing space, and plans to scale up investment to as much as $20 billion (about Rs 1.5 lakh crore).

It expects to roll out display units, for use in mobile phones and electronics devices, by 2024 and electronic chips from Indian manufacturing plants by 2025, Vedanta Group's Global Managing Director of Display and Semiconductor Business Akarsh Hebbar had told PTI.

''Semiconductor is a long-term business. We are looking at about $10 billion on display. Right now we are looking at $7 billion in semiconductors that may also go up by another $3 billion to further extend it. First 10 year we have engaged to invest up to $15 billion. We will evaluate further investment at a later stage,'' Hebbar said.