Vedanta has reported a 76.2 per cent rise in consolidated net profit at Rs 3,547 crore for the quarter ended December 31, 2024 (Q3) on Friday, due to higher income from its zinc and aluminium business. The company had posted a Q3 profit of Rs 2,013 crore in the year-ago period, it said in a filing to the Bombay Stock Exchange (BSE) on Friday.
Vedanta Cairn India's Mangla Processing Terminal (MPT) is operating to its optimum capacity for processing the crude oil being produced in Mangala, Bhagyam and Ashvarya oil fields in the district.
During the meeting, Chairman Agarwal reiterated Vedanta Group’s unwavering commitment to Odisha's progress.
This will be marking the largest commercial injection implemented in any oil and gas field in India, and amongst the very few done globally, its Corporate Communication statement said here.
The name of the company that would house the company's aluminium business has also been finalised, said a top official of the aluminium business vertical.
Prominent companies like Foxconn, Micron, AMD, IBM, Marvell, Vedanta, LAM Research, NXP Semiconductors, STMicroelectronics, and others were present at the SemiconIndia 2023 in Gujarat in the presence of PM Modi.
Prime Minister Narendra Modi on Friday promised 50 per cent financial assistance to players wishing to set up semiconductor manufacturing facility in the country.
The joint venture between Foxconn, also known as Hon Hai Technology Group, and Vedanta was aimed at manufacturing semiconductors in Gujarat, India.
Foxconn said, “we have been consistent and clear with them at all levels about our continued commitment to invest in India.”
Why did the storied Foxconn-Vedanta deal come a cropper? Why has the $19.5 billion investment fallen through in a strange sort of anti-climax? Vedanta and Foxconn had got on board STMicro for licensing technology, but the government had made it clear that it wanted the European chipmaker to have "more skin in the game", which translates into a stake in the partnership.
