Vedanta Q2 FY27 result: Net profit drops 33% QoQ; revenue falls to ₹26,356 crore

The company has registered a drop of 9% in revenue from operations quarter-on-quarter (QoQ) at ₹26,356 crore in contrast to ₹24,205 crore reported in Q1 FY27.

The operating profit, also known as earnings before interest, taxes, depreciation, and amortisation (EBITDA), rose 17% to ₹9,915 crore as compared to ₹8,501 crore in the previous quarter of the current fiscal year.

Its EBITDA margin expanded to 37.6% in the reporting quarter from 35.1% in Q1 FY27.

The Anil Agarwal-led company said, on a year-on-year (YoY) basis, it has reported the highest-ever quarterly revenue of ₹25,812 crore in Q2, up 57%.

The company also posted its best-ever quarterly EBITDA of ₹9,938 crore, up 106% YoY. Quarterly profit after tax (PAT) reached a record ₹6,202 crore, rising 151% YoY.

For H1 FY27, EBITDA stood at a record ₹18,407 crore, up 103% YoY, while PAT rose 151% to a record ₹11,496 crore. Half-yearly revenue reached a record ₹49,268 crore, marking a 54% YoY increase.

For the quarter under review, Vedanta reduced its net debt by ₹4,624 crore sequentially to ₹3,675 crore, compared with ₹8,299 crore in June 2026. The reduction was primarily driven by cash flow from operations.

The firm said it has generated free cash flow (FCF) before capex of ₹5,803 crore in Q2 FY27 as against ₹4,412 crore in Q1 FY27, taking cumulative H1 FY27 FCF to ₹10,215 crore.

Vedanta also invested ₹1,135 crore in growth capex during Q2 FY27, taking the cumulative investment for H1 FY27 to ₹2,283 crore.

Management commentary

“Vedanta delivered another quarter of strong operational performance, marked by record mined metal production of 271 kt and record 1H mined metal production for the 6th consecutive year along with best-ever 1H refined metal production at Zinc India, the successful commissioning of Gamsberg Phase II at Zinc International, record chrome ore production and 100% ore procurement at FACOR, and the highest quarterly cathode production at Copper India,” said Arun Misra, Executive Director, Vedanta.

Misra further added that Vedanta invested ₹1,135 crore in growth projects, advancing capacity expansions, mine development and resource security initiatives across its portfolio.

He said that the consistent delivery of these milestones reflected the strength of its diversified asset base and its continued focus on volume growth, cost leadership and creating value for all stakeholders.

Vedanta demerger recap

Vedanta’s demerger scheme became effective on May 1, 2026, with the stock trading on a post-demerger basis from April 30, 2026. April 30 served as the ex-demerger date because May 1 was a stock market holiday. Under the scheme, Vedanta shareholders received one share each in the four demerged entities for every Vedanta Ltd share held as of the record date.

The four resulting companies—Vedanta Aluminium Metal, Vedanta Power, Vedanta Oil and Gas, and Vedanta Iron and Steel—were listed and began trading on the NSE and BSE on June 15, 2026. 

The listing marked the completion of the group's restructuring, with each business now operating as a separate listed entity with its own management, capital allocation and growth strategy.

The rationale behind the demerger is to create focused, sector-specific businesses and simplify Vedanta’s corporate structure.