Both the oil and gas and power subsidiaries posted sharp rebounds into positive earnings territory, recovering from steep prior-year net losses. Vedanta Power benefited from higher per-unit realisations and a 26% surge in sales volume, which more than doubled its core operating EBITDA. Meanwhile, Vedanta Oil and Gas overcame slight production declines through field optimisation to generate ₹746 crore in quarterly net profit.
Key points
Operational turnarounds in energy segments demonstrate strong volume growth and improved…: Operational turnarounds in energy segments demonstrate strong volume growth and improved international pricing realisations.
Core operating EBITDA for the power business more than doubled year-on-year to reach ₹421…: Core operating EBITDA for the power business more than doubled year-on-year to reach ₹421 crore.
Share price performance remained fragmented across the wider group despite the massive pr…: Share price performance remained fragmented across the wider group despite the massive profit rebounds in key operating units.
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Vedanta stocks will be in focus after the company's Oil and Gas and Power businesses reported a sharp turnaround in profitability in the September quarter, swinging to profits from losses in the year-ago period. The strong earnings performance drove a sharp rally in both stocks on Friday, October 30, even as Vedanta and its Aluminium business traded lower.
Vedanta Oil and Gas jumped 13.5% to ₹31.64, while Vedanta Power surged 13.4% to ₹32.69. Vedanta Iron and Steel gained 3.7% to ₹26.25. However, Vedanta Aluminium Metal fell 2% to ₹342.25, while Vedanta declined 1.1% to ₹232.15.
Vedanta Power reported a net profit of ₹83 crore in the September quarter, compared with a net loss of ₹1,688 crore in the corresponding quarter of the previous fiscal year.
Its core operating EBITDA more than doubled to ₹421 crore. A 26% year-on-year increase in power sales volume, coupled with improved per-unit realisations, supported the performance. The business also recorded its first-ever positive earnings per share (EPS) of ₹0.21.
Vedanta Oil and Gas posted a net profit of ₹746 crore against a net loss of…
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