Vedanta swings to black, posts Q2 net prof it of Rs 4,352 crore

New Delhi: Mining conglomerate Vedanta Ltd on Friday reported a consolidated net profit of Rs 4,352 crore in the September 2024 quarter on the back of lower tax expenses. However, the company posted a consolidated net loss of Rs 1,783 crore in the year-ago period.

Its tax expenses dropped to Rs 2,030 crore against Rs 9,092 crore in Q2FY24. The company’s consolidated income in Q2FY25 declined to Rs 38,934 crore over Rs 39,585 a year ago.

The second half of this year will be a transformative period with the company’s major growth and integration projects coming online and ramping up, Vedanta Ltd Executive Director Arun Misra said. “Through our structural interventions and initiatives, we have significantly reduced our cost of production over the past 12-15 months, and we will continue this trend in the coming quarters,” he said.

Further, the company said its demerger is on track and in its final stages, with shareholder and creditor meetings scheduled in the coming months.

Vedanta Ltd CFO Ajay Goel said, “We delivered our highest-ever 1H EBITDA of Rs 20,639 crore, up 46 per cent Y-o-Y (Year-on-Year), with a robust 34 per cent EBITDA margin and PAT before exceptional items of Rs 4,467 crore, a 230 per cent Y-o-Y increase. This strong performance is driven by cost efficiency, volume growth and favourable

commodity prices.”