Vedanta Q2 FY27 Results: Consolidated Net Profit ₹6,202 Crore on Total Income of ₹26,866 Crore

Earnings
diversified metals and mining

Blacklitt Research28 October 20263 min read

An open-pit mine with terraced benches cut into a forested hillside — Serouj, via Wikimedia Commons (CC0). Illustrative image.

Vedanta (NSE: VEDL) reported consolidated total income of ₹26,866 crore and net profit of ₹6,202 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹8,884 crore with a net loss of ₹170 crore, it said in a filing on 28 Oct 2026.

Key highlights

Consolidated

Including its subsidiaries

Total income: ₹26,866 crore, up 58.0% YoY and 8.6% QoQ
Net profit and EPS: ₹6,202 crore, of which ₹3,650 crore is attributable to owners; basic EPS ₹9.35
Finance costs: ₹696 crore, down 8.5% YoY

Standalone

The company on its own, without its subsidiaries

Total income: ₹8,884 crore, up 72.5% YoY and down 16.6% QoQ
Net loss and EPS: Loss of ₹170 crore; basic loss per share of ₹0.43
Other income: ₹134 crore, against ₹2,942 crore in the June 2026 quarter

Summary

Consolidated ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	26,866	17,000	+58.0%	24,747	+8.6%
Revenue from operations	26,356	16,736	+57.5%	24,205	+8.9%
Other income	510	264	+93.2%	542	-5.9%
	6,202	n/a	n/a	n/a	n/a
Profit before tax	8,390	3,207	+161.6%	7,189	+16.7%
Finance costs	696	761	-8.5%	662	+5.1%
Depreciation	1,339	1,124	+19.1%	1,192	+12.3%
Tax expense	2,188	736	+197.3%	1,895	+15.5%
EPS, basic (₹)	9.35	4.61	+102.8%	14.02	-33.3%

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.

Profit before tax more than doubled, rising to ₹8,390 crore from ₹3,207 crore, while revenue from operations grew 57.5% to ₹26,356 crore.

Profit attributable to owners of Vedanta Limited was ₹3,650 crore, up 103.0% on ₹1,798 crore a year earlier. Tax of ₹2,188 crore is 26.1% of profit before tax.

Finance costs fell 8.5% to ₹696 crore while depreciation rose 19.1% to ₹1,339 crore. Finance costs are 2.6% of total income this quarter. The filing states that debt balances and related finance costs for comparative periods were reallocated between continuing and discontinued operations.

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	8,884	5,150	+72.5%	10,658	-16.6%
Revenue from operations	8,750	4,996	+75.1%	7,716	+13.4%
Other income	134	154	-13.0%	2,942	-95.4%
	-170	2,165	n/a	4,384	n/a
Profit before tax	-218	-275	+20.7%	2,512	n/a
Finance costs	413	315	+31.1%	386	+7.0%
Depreciation	14	12	+16.7%	13	+7.7%
Tax expense	-48	n/a	n/a	-26	-84.6%
Net profit margin	-1.91%	42.04%	-43.95 pp	41.13%	-43.05 pp
EPS, basic (₹)	-0.43	5.54	n/a	11.21	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.

The standalone company moved from a profit of ₹2,165 crore a year earlier to a net loss of ₹170 crore, with a loss before tax of ₹218 crore.

Other income was ₹134 crore against ₹2,942 crore in the June 2026 quarter. That June figure included dividend income from subsidiaries of ₹2,822 crore; the September quarter shows nil dividend income. Other income is 1.5% of standalone total income this quarter.

Standalone non-convertible debentures outstanding were ₹9,563 crore at carrying amount, against ₹11,360 crore for the group, a gap of ₹1,797 crore. Standalone total income of ₹8,884 crore is ₹17,982 crore below the consolidated figure.

Inference

The board approved a first interim dividend of ₹5 per share on 8 Oct 2026 for FY 2026-27. Paid-up equity capital is ₹391 crore at ₹1 face value, so the payout implied is about ₹1,955 crore. The filing gives no record date or payment date.

The auditors issued unmodified conclusions on both sets of results but drew attention to Notes 8(a) and 8(b). These cover regulatory investigations, including allegations in a short seller report, and an Enforcement Directorate search from 1 Jun 2026 to 3 Jun 2026. The company says it has received no further communication from the ED. The outcome of these matters is not stated, and neither is the reason for the standalone loss.

Reference: Original filing (PDF)

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