Mumbai, July 30 (IANS) Vedanta Limited on Thursday reported an 18 per cent sequential decline in consolidated net profit to Rs 5,473 crore for the quarter ended June 30 (Q1 FY27), as higher input costs weighed on earnings despite strong performance across its zinc, copper and silver businesses.
The company had posted a net profit of Rs 6,698 crore in the January-March quarter, according to its stock exchange filing.
Revenue from operations also slipped marginally by 1 per cent on a sequential basis to Rs 23,456 crore from Rs 23,731 crore in the preceding quarter.
The mining and metals major, however, delivered improved profitability on a year-on-year basis, with net profit margins expanding to 22 per cent from 12 per cent in the corresponding period last financial year.
The improvement came even as the cost of raw materials consumed rose 37 per cent, pushing total expenses up 33 per cent to Rs 17,558 crore, as per its filing.
Vedanta’s operational performance remained robust across key business segments.
Revenue from its combined India zinc and lead business increased nearly 50 per cent, while the copper segment recorded a 34 per cent rise in revenue. Revenue from the India silver business more than doubled during the quarter.
The results come after a strong earnings season for Vedanta Group companies. Last week, Hindustan Zinc reported that its quarterly profit more than doubled on the back of firm metal prices.
Earlier on Thursday, Vedanta Aluminium Metal, the pure-play aluminium company created following Vedanta’s demerger, reported a more than three-fold jump in profit, supported by higher aluminium prices.
Alongside its earnings, the company announced key leadership changes. The board approved the re-appointment of Arun Misra as Executive Director and designated him as the Chief Executive Officer for a one-year term beginning August 1, 2026, subject to shareholders’ approval.
Misra, who currently heads Hindustan Zinc, will step down from that position to assume his new responsibilities at Vedanta.
The company also approved the demerger of its real estate business into a separate entity, Vedanta Property Platforms Ltd, as part of its strategy to unlock value from non-core assets.
The proposed vertical split, subject to statutory and regulatory approvals, will entitle Vedanta shareholders to one share of Vedanta Property Platforms for every 20 shares held in Vedanta Limited.
–IANS
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