Vedanta Power Q2 FY27 Results: Consolidated Net Profit ₹83.00 Crore on Total Income of ₹2,919 Crore
Earnings
power generation
Blacklitt Research3 min read
Wilfredor, via Wikimedia Commons (CC0). Illustrative image.
Vedanta Power (NSE: VEDPOWER) reported consolidated total income of ₹2,919 crore and a net profit of ₹83 crore for the quarter ended 30 Sep 2026, it said in a filing on 29 Oct 2026. Standalone total income was ₹2,075 crore and standalone net profit ₹51 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹2,919 crore, up 38.6% YoY and 11.6% QoQ
Net profit: ₹83 crore, against a loss of ₹1,689 crore in Q2 FY26 and ₹423 crore in Q1 FY27
EPS: ₹0.21 basic, against a loss of ₹4.32 a year earlier
Exceptional loss: ₹127 crore plus late payment surcharge, booked on the Supreme Court penalty
Standalone
The company on its own, without its subsidiaries
Total income: ₹2,075 crore, up 18.5% YoY and 12.5% QoQ
Net profit: ₹51 crore, against a loss of ₹1,641 crore in Q2 FY26 and ₹449 crore in Q1 FY27
EPS: ₹0.13 basic, against a loss of ₹4.20 a year earlier
Finance costs: ₹170 crore, 8.2% of total income
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
2,919
2,106
+38.6%
2,616
+11.6%
Revenue from operations
2,908
2,104
+38.2%
2,607
+11.5%
Other income
11
2
+450.0%
9
+22.2%
83
-1,689
n/a
-423
n/a
Profit before tax
79
-2,257
n/a
-608
n/a
Finance costs
200
172
+16.3%
196
+2.0%
Depreciation
130
210
-38.1%
225
-42.2%
Tax expense
-4
-568
+99.3%
-185
+97.8%
Net profit margin
2.84%
-80.20%
+83.04 pp
-16.17%
+19.01 pp
EPS, basic (₹)
0.21
-4.32
n/a
-1.08
n/a
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.
Consolidated profit moved from a loss to a profit, but the step is large against a low base: the year-earlier quarter carried a loss of ₹1,689 crore. Total income grew 38.6% YoY, and revenue from operations rose 38.2%, while other income rose 450.0% from a small base of ₹2 crore to ₹11 crore. Other income is 0.4% of total income and 13.9% of profit before tax of ₹79 crore.
Finance costs of ₹200 crore are 6.9% of total income, up 16.3% YoY. Depreciation fell 38.1% to ₹130 crore from ₹210 crore a year earlier. Tax was a credit of ₹4 crore, so the net profit of ₹83 crore is close to profit before tax.
The consolidated figures include one subsidiary, Meenakshi Energy Limited, which the parent acquired by transfer of Vedanta Limited's shareholding. Consolidated net profit is ₹32 crore higher than standalone net profit of ₹51 crore.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
2,075
1,751
+18.5%
1,844
+12.5%
Revenue from operations
2,066
1,740
+18.7%
1,836
+12.5%
Other income
9
11
-18.2%
8
+12.5%
51
-1,641
n/a
-449
n/a
Profit before tax
51
-2,204
n/a
-628
n/a
Finance costs
170
154
+10.4%
168
+1.2%
Depreciation
85
155
-45.2%
160
-46.9%
Tax expense
0
-563
n/a
-179
n/a
Net profit margin
2.46%
-93.72%
+96.18 pp
-24.35%
+26.81 pp
EPS, basic (₹)
0.13
-4.20
n/a
-1.15
n/a
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.
Standalone profit before tax of ₹51 crore equals net profit, as the tax expense for the quarter is nil. Total income rose 18.5% YoY to ₹2,075 crore, with revenue from operations up 18.7% while other income fell 18.2% to ₹9 crore.
Standalone depreciation fell 45.2% to ₹85 crore from ₹155 crore. Finance costs rose 10.4% to ₹170 crore, which is 8.2% of total income. Standalone EBITDA for the quarter is ₹320 crore, as stated in the filing's notes.
The standalone figures are restated for the Composite Scheme of Arrangement, which became effective on 1 May 2026 with the same appointed date. The comparative periods are presented as if the Scheme had been effective from 1 Apr 2025.
The company booked an exceptional loss of ₹127 crore plus applicable late payment surcharge for the period ended 30 Sep 2026, following a May 2026 Supreme Court order imposing a penalty on alleged mis-declaration of declared capacity. The company says it continues to evaluate and pursue further legal remedies as may be available under applicable law.
For the six months ended 30 Sep 2026 the company revised the estimated useful economic life of plant and machinery to 40 years. Had it not, depreciation would have been higher by ₹73 crore and profit after tax lower by ₹54 crore, according to the notes. The auditors issued an unmodified conclusion on both sets of results.
Inference
The filing says the Board approved both sets of results on 29 Oct 2026, and that the auditors issued an unmodified conclusion on them. The consolidated figures for the year-earlier periods have not been audited or reviewed, according to the auditors' reports.
The filing says the company listed 6,000 Commercial Papers of ₹25,00,000 each on the NSE debt segment on 25 Aug 2026. It does not say how the penalty will be settled or whether any dividend will be paid, and the timing of any distribution is not stated.
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