Vedanta Oil & Gas Shares Jump Up To 17% After Q2 FY27 Profit Reaches ₹746 Crore; Company Targets 1.5 Lakh Barrels Per Day By FY28

Shares of Vedanta Oil & Gas rose as much as 17% in early trade on Friday, 30 October, after the company announced its September-quarter earnings and outlined plans to increase oil production over the next few years.

The company reported revenue of ₹2,486 crore for Q2 FY27, up 7% from the same period last year. Earnings before interest, taxes, depreciation and amortisation (EBITDA) climbed 34% to ₹1,393 crore, helped by better price realisations and lower operating costs.

Profit after tax from continuing operations stood at ₹746 crore. The results were released on Thursday. At 11:37 AM, Vedanta Oil & Gas’ share price stood at ₹31.88 on the National Stock Exchange (NSE), up 14.43% from the previous session’s closing.

Vedanta Oil & Gas Plans To Raise Production To 1.5 Lakh BPD

CEO Jim Johnny Gast said the company was working towards increasing production to 1,00,000 barrels per day (bpd) in the near term, followed by a possible increase to 1,50,000 bpd in FY28.

Its longer-term target is 3,00,000 bpd, although Gast said reaching that level would depend on the success of upcoming deepwater exploration and development projects.

For the September quarter, average daily gross operated production stood at 72,200 barrels of oil equivalent per day (boepd). This was lower than the 77,100 boepd recorded in the June quarter.

The company is looking at several projects to increase output, including its Ambe discovery off the West Coast and exploration opportunities in the Krishna-Godavari Basin.

Gast said the Ambe field alone could produce more than 10,000 barrels of oil per day, potentially during the next financial year.

Deepwater Exploration Remains A Key Priority

Vedanta Oil & Gas intends to focus much of its future exploration work on deepwater prospects in the KG Basin off India's eastern coast. The company is also evaluating opportunities in the Northeast, alongside the planned development of the Ambe field.

For FY27, it has earmarked capital expenditure of $300–400 million, with another $100 million planned for exploration activities.

The production targets are based on projects still under exploration or development. Their eventual contribution will depend on drilling results, project execution and the time needed to bring new discoveries into production.

Company Announces Change In Compliance Officer

In a separate filing, Vedanta Oil & Gas announced that Shivangi Dhanuka had resigned as Company Secretary and Compliance Officer. Her resignation will take effect at the close of business on 31 October 2026.

The board has approved the appointment of Rupesh Kumar as the new Company Secretary and Compliance Officer, effective 1 November 2026, following a recommendation from the Nomination and Remuneration Committee.

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