Vedanta Q2 Results: Mining Giant Returns to Profit, Posts ₹4,352 Crore Earnings

On November 8, Vedanta Ltd announced a net profit of ₹4,352 crore for the September quarter, attributable to its owners, contrasting with a net loss of ₹1,783 crore in the same quarter last year. The company's revenue from operations dropped by 3.6% to ₹37,171 crore, down from ₹38,546 crore in the corresponding period of the previous year, as stated in its exchange filing. 

Vedanta Quarter Results Highlights

• Revenue: Dropped by 3.6% to ₹37,171 crore from ₹38,546 crore in the same period last year.
• Net Profit:  ₹4,352 crore for the September quarter.
• EBITDA: Increased by 44 per cent YoY to ₹10,364 crore.

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Vedanta Management Commentary

"This strong performance is driven by cost efficiency, volume growth, and favourable commodity prices. Additionally, we raised $1.4 billion at Vedanta through a $1 billion QIP and a $400 million HZL OFS. At the same time, with the $1.2 billion VRL bond issuance and ongoing deleveraging, we have reduced Holdco. debt to $4.8 billion, the lowest level in a decade," said chief financial officer Ajay Goel.

Stock Market Reaction after Vedanta Quarter Results

As of 3:05 pm IST, Vedanta share price was trading at ₹457.85 on the National Stock Exchange, reflecting a slight decline of 0.01% from the previous day's close. 

About Vedanta

Vedanta Ltd, previously known as Sesa Sterlite Limited, is a diversified metals and mining corporation. Through its subsidiaries, the company is engaged in the exploration, mining, processing, and export of various natural resources, along with operations in the power, oil, and gas sectors. Its product range includes lead, zinc, silver, copper rods and cathodes, aluminum, iron ore, commercial power, steel, nickel, copper, and oil and gas, primarily across India.

Additionally, Vedanta produces pig iron and metallurgical coke. The company also provides auxiliary services such as shipping, port services, and shipbuilding. With operations spanning the US, Asia-Pacific, Europe, the Middle East, and Africa, Vedanta’s headquarters are located in Mumbai, Maharashtra, India.