Vedanta Q2 FY27 Results: Profit Rises 151%, Revenue Surges 57%, And Net Debt Drops By ₹4,624 Crore

Vedanta Limited has reported a total net profit of ₹6,202 crore for the quarter ended September 2026. This was a 151% YoY rise from ₹2,471 crore in the same quarter last year. Revenue from operations also surged 57% to ₹25,812 crore.

The company said it was able to achieve the performance due to stronger commodity pricing, favourable foreign exchange movements and higher production across key businesses.

After the earnings announcement on 28 October 2026, the Vedanta share price closed at ₹233.05, up 3.30% on the National Stock Exchange (NSE). The previous close of the stock was ₹225.60, while it opened at ₹227.35. Vedanta shares reached an intraday high of ₹233.65 and touched a low of ₹226.40 during the session.

Vedanta Q2 Results: Stronger EBITDA And Margins

Earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled to ₹9,938 crore from ₹4,817 crore, a 106% increase. The EBITDA margin, excluding the copper business, improved to 60% from 49% a year earlier.

Compared with the June quarter, net profit increased 17%, revenue rose 10%, and EBITDA grew 17%. Finance costs declined 9% to ₹696 crore, while investment income advanced 44% to ₹495 crore. Depreciation and amortisation expenses increased 19% to ₹1,339 crore, largely due to higher ore production at Hindustan Zinc.

Zinc India Drives Vedanta’s Growth

Vedanta’s Zinc India business posted a 76% year-on-year (YoY) surge in revenue to ₹14,525 crore. EBITDA more than doubled, reaching ₹9,243 crore.

Production also gathered pace. Mined metal output hit a record 2,71,000 tonnes, up 5% YoY, while refined metal production rose 7% to 2,64,000 tonnes.

Costs moved in the opposite direction. Zinc production costs, excluding royalty, fell 29% to $703 per tonne from $994 per tonne. Higher commodity prices added further impetus, with average zinc prices climbing 35% and silver prices advancing 59%.

Meanwhile, Zinc International revenue rose 40% to ₹1,730 crore, and the second phase of the Gamsberg project in South Africa added 2,00,000 tonnes of annual metal-in-concentrate capacity.

Vedanta Cuts Net Debt

Consolidated net debt declined to ₹3,675 crore from ₹8,299 crore at the end of June. The net debt-to-EBITDA ratio improved to 0.1 times from 0.3 times. Cash and cash equivalents increased to ₹26,622 crore, while free cash flow before capital expenditure reached ₹5,803 crore, up from ₹4,412 crore in the preceding quarter.

The company invested ₹1,135 crore in growth projects during the quarter. Its copper business also reported revenue growth of 41% to ₹9,280 crore, while EBITDA turned positive at ₹80 crore. However, international copper sales fell 74%, affected by supply-chain disruptions linked to the closure of the Strait of Hormuz.

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