Vedanta Oil and Gas Q2 FY27 results: net profit ₹746 crore

How did Vedanta Oil and Gas perform in Q2 FY27?

Vedanta Oil and Gas reported consolidated revenue of ₹2,488 crore for Q2 FY27, against ₹2,507 crore in Q1 FY27. Other income was ₹140 crore and total income was ₹2,628 crore, compared with ₹2,658 crore in the previous quarter. The year-ago quarter and corresponding year-on-year comparisons were not provided in the available figures.

Consolidated EBITDA was ₹1,351 crore in Q2 FY27, up 66.0% from ₹814 crore in Q1 FY27. The EBITDA margin was 54.3%, compared with 32.5% in the previous quarter. Total expenses fell 27.2% to ₹1,853 crore from ₹2,544 crore, including depreciation of ₹647 crore and finance costs of ₹69 crore.

Profit before tax was ₹775 crore, compared with a loss of ₹327 crore in Q1 FY27. After tax of ₹29 crore, net profit and profit attributable to owners were ₹746 crore, down 21.1% from ₹945 crore. Basic EPS was ₹1.91, down from ₹2.42. On a standalone basis, revenue was ₹1,433 crore and profit after tax was ₹515 crore.

What do the balance sheet and cash flow show?

As of 30 September 2026, Vedanta Oil and Gas reported total assets of ₹36,279 crore, total equity of ₹18,391 crore, borrowings of ₹2,654 crore and cash of ₹70 crore. Inventories stood at ₹1,333 crore, trade receivables at ₹1,224 crore and trade payables at ₹1,673 crore. A comparison with the previous balance sheet date was not provided in the available figures.

For H1 FY27, operating cash flow was ₹2,230 crore, investing cash flow was an outflow of ₹347 crore and financing cash flow was an outflow of ₹3,533 crore. Capital expenditure was ₹1,709 crore. A year-earlier cash-flow comparison was not provided in the available figures.

What else did the company announce?

The board approved a change in the Company Secretary and Compliance Officer on 29 October 2026. Shivangi Dhanuka resigned for personal reasons, effective at the close of business hours on 31 October 2026, while Rupesh Kumar was appointed from 1 November 2026 on the recommendation of the Nomination and Remuneration Committee.

The same-day filing did not announce a dividend, fund raise or other board appointments. It also stated that a statement on deviation or variation for proceeds from a public issue, rights issue, preferential issue or qualified institutional placement was not applicable, while disclosure of outstanding defaults on loans and debt securities was also not applicable.

What did the auditors point out?

Walker Chandiok & Co LLP gave an unmodified opinion on the consolidated and standalone financial results. The auditors said that nothing had come to their attention causing them to believe that the statement had not disclosed the information required under Regulation 33 or contained any material misstatement.

The review report drew attention to uncertainty concerning litigation over extension of the Production Sharing Contract for Cambay with the Ministry of Petroleum & Natural Gas. The auditors said management recognised a provision for impairment of ₹379 crore in the current period and that the conclusion was not modified in respect of this matter. The auditors also stated that the interim information of one subsidiary had not been reviewed or audited by its auditor and that their conclusion for that subsidiary relied on information furnished by management.

What did Vedanta Oil and Gas' management say?

The available earnings-call record contains no management quotes, guidance, priorities, risks or analyst questions. The company’s filing scheduled the earnings conference call for 29 October 2026 from 5:00 PM to 5:30 PM IST, with the call recording to be made available on the company website on the same day. No further management commentary is available in the supplied excerpts.

How did Vedanta Oil and Gas shares react?

After the filing appeared, Vedanta Oil and Gas was up 1.1% after 5 minutes, down 0.1% after 15 minutes and down 1.5% after 30 minutes. The stock closed the reaction day up 8.0% from its pre-results close of ₹27.79. By the next day’s close, it was up 11.0% from that pre-results close.

The Nifty Smallcap 250 fell 2.0% on the reaction day and 0.6% by the next day’s close, while an industry median was not available for comparison. On earlier results days, the stock fell 5.1% on 29 July 2026 and 5.0% on 16 June 2026. A five-day reaction and a one-month move were not provided.