Vedanta Q2 Results: Cons profit plunges 59% YoY to Rs 1,798 crore on exceptional loss of Rs 2,067 crore

The profit after tax (PAT) is attributable to the owners of the company. The company’s total revenue from operations for the quarter stood at Rs 39,868 crore, up 5.9% from Rs 37,634 crore in the corresponding period last year.

The sharp fall in Vedanta’s September-quarter net profit can be attributed to a net exceptional loss of Rs 2,067 crore, compared to gains of Rs 1,868 crore in the year-ago period.

The Anil Agarwal-led company’s profit after tax (PAT) fell 44% sequentially to Rs 1,798 crore from Rs 3,185 crore in Q1FY26, while the topline rose 5.4% from Rs 37,824 crore in the April–June quarter of FY26. Excluding exceptional items, the company’s PAT jumped 13% year-on-year to Rs 5,026 crore, the filing to the exchanges said.

Vedanta said its second-quarter revenue was the highest ever, while it also achieved a record second-quarter EBITDA of Rs 11,612 crore, up 12% year-on-year, supported by a margin expansion of 69 basis points to 34%.

The company’s net debt-to-EBITDA ratio stood at 1.37x during the quarter under review, while its credit rating was reaffirmed at AA, the filing said.The parent company, Vedanta Resources Limited, successfully refinanced $550 million through a bond issue, reducing its overall interest cost from 11.6% to 10%, while significantly improving the average debt maturity to 4.5 years, the filing said.

Aluminium

– Record quarterly alumina production at 653 kt, up 31% YoY and 11% QoQ.- Record cast metal aluminium production at 617 kt, up 1% YoY and 2% QoQ.- BALCO produced first metal from India’s largest 525 kA smelter.- Comparative figures exclude one-time Cairn arbitration gain in Q2FY24, custom smelting at the copper business, and one-off gain in Q2FY26.

Zinc India

– Highest-ever second-quarter mined metal production at 258 kt, up 1% YoY.- Lowest Q2 HZL COP in the last five years at $994/t, down 7% YoY and 2% QoQ.

Zinc International

– Mined metal production rose 38% YoY and 6% QoQ to 60 kt.- Gamsberg’s production surged 54% YoY and 7% QoQ to 49 kt.

Oil & Gas

– Q2FY26 production stood at 89.3 kboepd.

Iron Ore, Steel, and Copper

Iron ore production at IOG stood at 0.1 Mnt, up 48% YoY.Record quarterly pig iron production at 238 kt, up 26% YoY and 12% QoQ.Ore production at Facor at 47 kt, up 23% YoY.

Power

Merchant thermal power capacity enhanced to 4.2 GW with the commissioning of Athena (600 MW) and Meenakshi (1,000 MW) plants.

Management Speak

Commenting on the Q2FY26 results, Executive Director Arun Misra said the company’s H1FY26 performance reflected Vedanta’s resilience, as it delivered 8% YoY EBITDA growth during a period marked by uncertainties and lower commodity prices compared to the FY25 average.

“We achieved record production of aluminium, alumina, and zinc MIC in our international operations, alongside pig iron and power generation. We also made strong progress on new projects, including the commissioning of 1.3 GW of new power capacities, first metal production from the new BALCO smelter, first alumina from the 1.5 MTPA Train-2 at Lanjigarh refinery, and the start of the 160 KTPA roaster at Debari. Supported by increased production capacity and a recovery in commodity prices, Vedanta is well-positioned to deliver its best-ever performance in FY26, with full-year EBITDA expected to surpass the historic peak of around USD 6 billion achieved in FY22,” Misra added.