Summary:
Vedanta reported Q2FY27 net profit of ₹3,650 crore, more than doubling year-on-year, while revenue increased 57.5% to ₹26,356 crore. EBITDA reached ₹9,915 crore, supported by zinc operations and stronger metal prices, although profit declined sequentially from the June quarter.
Vedanta Limited reported a consolidated net profit attributable to shareholders of ₹3,650 crore in Q2FY27, more than doubling from ₹1,798 crore in Q2FY26. Revenue from operations surged 57.5% YoY to ₹26,356 crore, supported by higher commodity prices, improved sales volumes and favourable currency movements.
Vedanta Q2FY27 Results: Revenue Rises 57%
Vedanta delivered strong operating performance during the September quarter, with revenue and EBITDA registering significant growth.
Revenue from operations increased from ₹16,736 crore in Q2FY26 to ₹26,356 crore in Q2FY27. On a sequential basis, revenue grew 8.9% from ₹24,205 crore.
EBITDA increased 16.6% QoQ to ₹9,915 crore, compared with ₹8,501 crore in Q1FY27. The EBITDA margin improved from 35.1% to 37.6%.
| Financial metric | Q2FY27 | Q1FY27 | QoQ change |
| Revenue from operations | ₹26,356 crore | ₹24,205 crore | +8.9% |
| EBITDA | ₹9,915 crore | ₹8,501 crore | +16.6% |
| EBITDA margin | 37.6% | 35.1% | +250 bps |
| Net profit attributable to owners | ₹3,650 crore | ₹5,473 crore | -33.3% |
Although attributable net profit more than doubled YoY, it declined 33.3% QoQ from ₹5,473 crore. Profit after tax from continuing operations, before minority interests, stood at ₹6,202 crore, up 17% sequentially.
Zinc and Silver Businesses Drive Strong Earnings
Vedanta's zinc business played a major role in the quarterly performance.
Hindustan Zinc contributed approximately ₹9,243 crore in segment EBITDA, representing more than 90% of the group's total EBITDA before adjustments.
Revenue from Hindustan Zinc increased 76% YoY to ₹14,525 crore, while its silver business generated ₹4,110 crore in revenue.
Higher zinc prices supported earnings. Average London Metal Exchange zinc prices increased to $3,825 per tonne from $3,466 per tonne in the preceding quarter.
The company also benefited from higher metal production and stronger operating efficiency across its businesses.
Production Expansion and Recent Developments
Vedanta continued expanding its mining and metals operations during the quarter.
Its mined-metal production reached a quarterly record of 271 kilotonnes. The company also commissioned Phase II of its Gamsberg zinc expansion project in South Africa.
Growth capital expenditure stood at ₹1,135 crore during Q2FY27, taking total investment during H1FY27 to ₹2,283 crore.
These investments are aimed at increasing production capacity and supporting future earnings, although profitability will remain sensitive to global commodity prices and operating costs.
Why Did Vedanta Shares Surge Over 3%?
Vedanta shares gained 3.30% on October 28, 2026, closing at ₹233.05 on the NSE against the previous close of ₹225.60.
The stock touched an intraday high of ₹233.65 as investors assessed stronger operating earnings and improved profitability.
The rise coincided with the company's quarterly results, particularly the higher EBITDA and strong performance of its zinc business. However, the results alone cannot establish the exact cause of the share-price movement.
Conclusion
Vedanta's Q2FY27 performance showed substantial YoY growth in revenue, operating earnings and attributable profit, despite a sequential decline in net profit.
The company's upcoming performance will depend on metal prices, production growth, operating costs and returns from its ongoing expansion projects. Its improved EBITDA margin and record production provide important indicators for assessing future quarterly results.
