Vedanta Oil and Gas Q2 FY27 Results: Consolidated Net Profit ₹746 Crore on Total Income of ₹2,628 Crore
Earnings
Oil and gas
Blacklitt Research3 min read
Hans Peters for Anefo, via Wikimedia Commons (CC0). Illustrative image.
Vedanta Oil and Gas (NSE: VOGL) reported consolidated total income of ₹2,628 crore and net profit of ₹746 crore for the quarter ended 30 Sep 2026, it said in a filing on 29 Oct 2026. Standalone total income was ₹1,488 crore and net profit ₹515 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹2,628 crore, up 3.3% YoY and down 1.1% QoQ
Net profit: ₹746 crore, against a loss of ₹92 crore a year earlier and ₹945 crore in Q1 FY27
EPS: ₹1.91 basic, not annualised
Finance costs: ₹69 crore, down 59.6% YoY
Standalone
The company on its own, without its subsidiaries
Total income: ₹1,488 crore, down 35.0% YoY and 1.1% QoQ
Net profit: ₹515 crore, down 21.5% YoY and 25.9% QoQ
EPS: ₹1.32 basic, not annualised
Other income: ₹55 crore, against ₹942 crore in the year-earlier quarter
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
2,628
2,544
+3.3%
2,658
-1.1%
Revenue from operations
2,488
2,342
+6.2%
2,507
-0.8%
Other income
140
202
-30.7%
151
-7.3%
746
-92
n/a
945
-21.1%
Profit before tax
775
113
+585.8%
-327
n/a
Finance costs
69
171
-59.6%
110
-37.3%
Depreciation
647
667
-3.0%
741
-12.7%
Tax expense
29
121
-76.0%
-175
n/a
Net profit margin
28.39%
-3.62%
+32.00 pp
35.55%
-7.17 pp
EPS, basic (₹)
1.91
-0.24
n/a
2.41
-20.7%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Revenue from operations rose 6.2% YoY to ₹2,488 crore, while other income fell 30.7% to ₹140 crore. Other income is 5.3% of total income this quarter.
Net profit moved from a loss of ₹92 crore to ₹746 crore, but profit before tax of ₹775 crore is well above the ₹113 crore of the year-earlier quarter. Tax expense was ₹29 crore, or 3.7% of profit before tax, against ₹121 crore a year earlier. Finance costs of ₹69 crore are 2.6% of total income.
The quarter follows a loss before tax of ₹327 crore in Q1 FY27, which the table shows as a loss. The filing records a net exceptional loss of ₹441 crore in the quarter ended 30 Jun 2026 and an impairment charge of approximately ₹379 crore on Cambay Block balances in Q1 FY27. Net profit fell 21.1% QoQ, more than total income, which fell 1.1%.
The statement also includes a net exceptional gain of ₹1,056 crore from discontinued operations in the quarter ended 30 Jun 2026. The filing does not describe the nature or source of that gain, so the effect on the quarter's comparison cannot be separated from the continuing business.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,488
2,289
-35.0%
1,504
-1.1%
Revenue from operations
1,433
1,347
+6.4%
1,447
-1.0%
Other income
55
942
-94.2%
57
-3.5%
515
656
-21.5%
695
-25.9%
Profit before tax
418
755
-44.6%
-582
n/a
Finance costs
50
128
-60.9%
81
-38.3%
Depreciation
324
377
-14.1%
382
-15.2%
Tax expense
-97
39
n/a
-233
+58.4%
Net profit margin
34.61%
28.66%
+5.95 pp
46.21%
-11.60 pp
EPS, basic (₹)
1.32
1.68
-21.4%
1.78
-25.8%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Revenue from operations rose 6.4% to ₹1,433 crore, so operating revenue grew while the year-earlier other income base was high.
Standalone profit before tax of ₹418 crore compares with ₹755 crore a year earlier, down 44.6%. Net profit fell 21.5% YoY to ₹515 crore, a smaller fall than profit before tax. The standalone tax line is a benefit of ₹97 crore in the quarter, against an expense of ₹39 crore a year earlier.
Standalone net profit is ₹231 crore below consolidated net profit. The standalone EPS of ₹1.32 is also below the consolidated figure of ₹1.91.
The review report notes one unreviewed subsidiary with total revenues of ₹302 crore and a net loss after tax of ₹8 crore for the quarter and year to date. The auditors state that these amounts are not material to the group.
The auditors draw attention to Note 6 on the Cambay Block litigation. Their conclusion is not modified in respect of this matter. The company says the ultimate outcome of the litigation and its consequential impact, if any, cannot presently be determined.
Inference
The filing says 391,03,88,057 equity shares of ₹1 each were allotted on 4 May 2026 to eligible shareholders of Vedanta Limited under the demerger scheme, which became effective on 1 May 2026. Consolidated paid-up equity share capital is ₹391 crore at 30 Sep 2026, against ₹5 crore a year earlier.
The filing does not give the reason for the standalone other income of ₹942 crore in the year-earlier quarter, the nature of the ₹1,056 crore discontinued-operations gain, the outcome of the Cambay Block appeal, or whether a dividend will be declared; these are not known from the filing.
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