Vedanta Q2 Result: Net Profit Down A Whopping 58.5% YoY To Rs 1,798 Core; Stock Down 2.6%

Vedanta Q2 Result: Metal-to-mining major, Vedanta, on Friday, reported a whopping 58.5% decline in its net consolidated profit (attributable to shareholders of the company) to Rs 1,798 crore in the quarter ending on September 30, 2025. The company had reported a net profit of Rs 4,352 crore in the year-ago-period.

Vedanta's net consolidated profit after tax (PAT) stood at Rs 4,947 crore in Q2FY26 against Rs 7,633 crore reported in Q2FY25. The group's net consolidated revenue from operations stood at Rs 39,218 crore in Q2FY26, which was higher than Rs 37,17 crore reported in Q2FY25.

Vedanta shares closed 2.46% lower at Rs 495.45 per share on BSE with a market capitalisation of Rs 1,93,349.14 crore. The company scrip had touched an intraday high mark of Rs 509 per share and an intraday low mark of Rs 491 per share.

Vedanta Q2 Result: Key Highlights

The Anil Aggarwal-led metal to mining conglomerate reported a 59% YoY decline in its net consolidated profit to Rs 1,798 crore. Whereas, the the profit was down 43.5% on a quarterly basis from Rs 3,185 crore reported in Q1FY26.

Vedanta's total income for the quarter reached Rs 40,464 crore, marking a 4% increase from Rs 38,934 crore in the same period last year. The company's EBITDA, which represents earnings before interest, taxes, depreciation, and amortisation, rose by 12% year-on-year to Rs 11,612 crore.

This growth was primarily due to higher premiums and forex benefits, although it was somewhat offset by increased costs and reduced volume.

Vedanta Q2 Result: EBITDA Margins

The EBITDA margin improved to 34%, showing an increase of 69 basis points compared to the previous year. It is important to note that this figure does not include custom smelting at the copper business or any one-off gains recorded in the second quarter of FY26. These factors contributed significantly to Vedanta's financial performance during this period.
The rise in operating profit reflects Vedanta's ability to leverage favourable market conditions despite facing challenges such as higher operational costs. The company's strategic focus on premium products and effective forex management played a crucial role in achieving these results.

Vedanta Segment-Wise Performance

The conglomerate's zinc, lead and silver revenue increased to Rs 8,235 crore during the quarter under review against Rs 7,953 crore reported in the year-ago period. Vedanta posted its highest-ever second quarter mined metal production at 258kt, up 1% YoY, as per the company press release.

The quarterly alumina production stood at 653kt, up 31% YoY and 11% QoQ. Whereas, iron ore production stood at 0.1Mnt up 48% YoY.

"We delivered record production of Aluminium, Alumina, Zinc MIC in our international operations, Pig Iron and power generation. Alongside, we delivered strong progress on new projects, including commissioning of 1.3 GW of new power plant capacities, first metal production from new BALCO smelter, first alumina from 1.5 MTPA train 2 at Lanjigarh refinery and start of 160 KTPA Roaster at Debari," said Arun Misra, ED, Vedanta.

Vedanta Growth Outlook

The company is on track to deliver its best performance in financial year 2025-26, with "full year EBITDA surpassing the historic best EBITDA of ~USD 6bn delivered in FY22," added Misra.

Vedanta Q1 Result Recap

Vedanta reported a 12.5% year-on-year decline in its net consolidated profit to Rs 4,457 crore in the quarter ending on June 30, 2025.

The metal-to-mining major had reported a net profit of Rs 5,095 crore in the June quarter of the previous financial year. The conglomerate had also reported a 6.2% YoY increase in its net revenue from operations to Rs 37,824 crore.

In the June quarter, Vedanta had reported a decline in its net profit by 12.5% to Rs 4,457 crore from Rs 5095 crore reported in the June quarter of FY25. Vedanta's net profit declined 10% sequentially from Rs 4,961 crore in the March quarter of FY25. The company's net debt/ EBITDA stood at 1.3x.

Vedanta's revenue in the Zinc and Lead segment declined to Rs 6,116 crore against Rs 6,421 crore reported in the year-ago period. The company's silver segment remained almost unchanged at Rs 1,426 crore in the June quarter of FY26 against Rs 1,427 crore in the year-ago period.