Vedanta Reports Q2 Profit of ₹4,352 Crore

Vedanta Ltd reported a net profit of ₹4,352 crore for the September quarter, a notable recovery from a loss of ₹1,783 crore in the same period last year, primarily due to a substantial reduction in tax expenses. The company's revenue from operations decreased by 3.6% to ₹37,171 crore, while EBITDA surged 44% to ₹10,364 crore, driven by favorable commodity prices and cost-saving initiatives. Additionally, Vedanta raised ₹8,500 crore through a Qualified Institutions Placement (QIP) to strengthen its financial position, reducing its net debt by ₹4,400 crore to ₹56,927 crore. The mining giant's performance was bolstered by increased production and improved prices for aluminium, copper, and zinc, despite sluggish demand in the domestic market. Looking forward, Vedanta's executive team emphasized that the second half of the fiscal year will focus on transformative growth projects. The company continues to progress with its demerger plan and aims to ramp up production capacity significantly.