Vedanta Oil and Gas Q2 profits fall 21% QoQ to ₹746 crore; revenues contract marginally; key things to know

Vedanta Oil and Gas (VOGL), the crude oil exploration and production company, recorded a 21% quarter-on-quarter (QoQ) fall in its consolidated net profits in the July to September quarter of FY27, with a key focus on the marginal contraction of revenues despite margin growth in the period.

From May 1, 2026, the company was effectively demerged from Vedanta Limited, i.e., Vedanta Group’s flagship company, with the aim of making the business focused and sector-specific while simplifying the conglomerate’s structure.

NSE filings showed that Vedanta Oil and Gas’ consolidated net profit after tax (PAT) declined 21% sequentially to ₹746 crore levels in Q2 FY27, in comparison to ₹945 crore in the previous quarter of the current fiscal year.

On a year-on-year basis, the company posted a sharp rise in profits in the September quarter, as compared to a net loss of ₹92 crore in the second quarter of FY26.

The data further showed that VOGL’s revenue from core operations contracted 0.75% QoQ to ₹2,488 crore in the second quarter earnings report, in comparison to ₹2,507 crore in the previous quarter of FY27.

However, on a yearly basis, the company’s revenues surged around 7% to Q2 levels, from ₹2,330 crore a year ago, as per the consolidated financial statements.

“The company delivered resilient financial performance in Q2FY27, with revenue increasing 7% YoY to ₹2,486 crore and EBITDA growth of 34% YoY to ₹1,393 crore, reflecting higher price realisations and a continued focus on cost optimisation,” as per the official statement.

Shares of Vedanta Oil and Gas were listed on the stock exchanges on June 15, and the Q2 earnings this time mark the second public results announcement of the company, prompting to take the comparison on a QoQ basis for accurate evaluation of performance.

The company’s stock will remain in focus of investors on Friday, October 30, as VOGL filed its Q2 earnings after market hours on Thursday, October 29.

Margin growth

NSE filings also showed that VOGL’s operating profit, or earnings before interest, tax, depreciation, and amortisation (EBITDA), advanced nearly 66% quarter-on-quarter to ₹1,351 crore, in comparison to ₹814 crore in the previous quarter.

EBITDA margins expanded to 54.3% in the second quarter of FY27, in comparison to 32.46% in the first quarter of FY27.

How have Vedanta Oil and Gas shares performed?

NSE data showed that Vedanta Oil and Gas shares have declined 23% on a year-to-date (YTD) basis so far in 2026, and have lost 18% of their value in the last one-month period.

The exchange data suggests that the stock has declined 2.7% in the last five market sessions.

Shares of Vedanta Oil and Gas surged to their 52-week high of ₹47.60 apiece on July 3, 2026, while the 52-week low was at ₹26.41 apiece on October 23, 2026.

The company’s market capitalisation (m-cap) was at ₹10,894 crore as of the trading session on Thursday, October 29.