Vedanta Q2 Results: Exceptional Loss Drags Net Profit Down 44%, Below Estimates

Vedanta Ltd.'s net profit for the second quarter of FY26 declined 43.5% sequentially missing analysts' estimates, according to an exchange filing on Friday.

The mining and metals giant reported a consolidated bottom-line of Rs 1,798 crore, as compared to Rs 3,185 crore in the previous quarter. Analysts on Bloomberg had estimated a profit of Rs 3,629.54 crore. The profit was pulled down in the quarter ended September due to an exceptional loss of Rs 2,067 crore.

Revenue rose 5.4% to Rs 39,868 crore versus Rs 37,434 crore, while Bloomberg estimated it to be at Rs 38,312.73 crore. According to the company this is the highest ever second quarter revenue.

Earnings before interest tax depreciation and amortisation went up 14% to Rs 11,397 crore versus Rs 9,918 crore in the first quarter of financial year 2026. Margin expanded to 28.6% versus 26.2% in the previous quarter.

• Revenue up 5.4% to Rs 39,868 crore versus Rs 37,824 crore (Estimate: Rs 38,312.73 crore).

• Ebitda up 14.9% at Rs 11,397 crore versus Rs 9,918 crore (Estimate: Rs 11,195.58 crore).

• Margin at 28.6% versus 26.2% (Estimate: 29.2%).

• Net profit down 43.5% at Rs 1,798 crore versus Rs 3,185 crore (Estimate: Rs 3,629.54 crore).

Net debt stands at Rs 62,063 crore, implying Net debt/ Ebitda ratio of 1.37 times down from 1.49 times.

The company saw record quarterly alumina production at 653 kt, up 31% year-on-year and 11% quarter-on-quarter. The zinc business saw highest-ever second quarter mined metal production at 258 kt, up 1% year-on-year.

The stock settled 2.64% lower at Rs 493.55 apiece on the NSE, compared to a 0.60% decline in the benchmark Nifty 50.

Vedanta shares have risen 6.36% in the last 12 months and 11.05% year-to-date.

Out of 15 analysts tracking the company, 10 maintain a 'buy' rating, four recommend a 'hold' and one suggest 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 512.43 implies an upside of 3.8%.