Vedanta Q1 FY27 results 2026: profits lift at units

A quarter shaped by demerger-linked disclosures

Vedanta Group companies reported their first quarter numbers after the effective May 1, 2026 demerger that created multiple listed verticals. Results for the quarter ended June 30, 2026 (Q1 FY27) showed sharp profit turnarounds at Vedanta Oil and Gas Ltd and Vedanta Iron and Steel Ltd. But Vedanta Power Ltd reported losses despite higher income and higher power sales. Alongside the operating trends, exceptional items and restructuring-linked charges played a major role in reported profitability. The set of updates also included disclosures on share encumbrances at Vedanta Iron and Steel and corporate changes at Vedanta Ltd.

Vedanta Oil and Gas posts ₹945 crore consolidated profit

Vedanta Oil and Gas Ltd reported a consolidated net profit of ₹945 crore in Q1 FY27, compared with a net loss of ₹104 crore in Q1 FY26. Revenue from operations was reported at ₹2,507 crore, up from ₹2,303 crore in the corresponding period last year, with another reference in the filings placing the year-ago comparison at ₹2,311 crore. Other income fell to ₹151 crore from ₹320 crore. Total expenses for the quarter were ₹2,544 crore versus ₹2,637 crore a year earlier. Profit before exceptional items and tax was ₹114 crore, compared with a loss of ₹6 crore in Q1 FY26. The Board approved the unaudited standalone and consolidated results on July 29, 2026.

Exceptional gain offsets impairment and other charges

The reported swing in profit was heavily influenced by exceptional items. The company recorded an exceptional gain of ₹1,056 crore from a slump sale of discontinued operations, which included the power, nicomet, and coke businesses. This was partially offset by an impairment charge of ₹379 crore linked to assets relating to the Cambay Block (CB-OS/2). The impairment followed an adverse order from the Delhi High Court regarding the extension of its Production Sharing Contract (PSC). Another disclosure in the results commentary referred to an exceptional loss of ₹441 crore in continuing operations due to impairment provisions and demerger-related costs. The net exceptional gain was shown at ₹615 crore in the consolidated metric table.

Continuing vs discontinued operations in Oil and Gas results

Vedanta Oil and Gas reported that discontinued operations contributed a profit of ₹1,097 crore, largely due to the slump sale related gain. After exceptional items and tax, profit after tax from continuing operations was presented as a ₹152 crore loss, versus a loss of ₹15 crore in the prior-year period. That mix of continuing losses and discontinued gains explains how the consolidated net profit landed at ₹945 crore. The company also disclosed stronger operating metrics in another earnings note. Operational EBITDA climbed 61.2% to ₹814 crore from ₹505 crore, and EBITDA margin expanded to 32.5% from 21.9%.

Standalone Oil and Gas: profit at ₹695 crore

On a standalone basis, Vedanta Oil and Gas reported a net profit of ₹695 crore for Q1 FY27, compared with a net loss of ₹332 crore in Q1 FY26. The standalone exceptional gain from discontinued operations was also stated at ₹1,056 crore. Continuing operations carried an exceptional loss of ₹441 crore due to impairment and demerger-related costs. The quarter therefore reflected a combination of improved operating performance and large one-off items linked to the discontinued portfolio and restructuring.

Vedanta Iron and Steel returns to profit after demerger

Vedanta Iron and Steel Ltd reported a consolidated net profit after tax of ₹121 crore in Q1 FY27, reversing a ₹145 crore loss in Q1 FY26. Another report on the same quarter put net profit at ₹122 crore and the year-ago loss at ₹142 crore, reflecting minor differences across coverage. Revenue from operations rose to ₹3,662 crore in Q1 FY27 compared with ₹3,095 crore in the comparable period. EBITDA was reported at ₹525 crore versus ₹358 crore, and earnings per share at ₹0.31 versus (-₹0.36). The company said these were its first results after the demerger from Vedanta Ltd.

Finance costs and leverage disclosures at Iron and Steel

A key driver in the iron and steel quarter was lower finance costs. Finance costs dropped to ₹207 crore in Q1 FY27 from ₹461 crore in Q1 FY26, supporting a pre-tax profit of ₹165 crore compared with a pre-tax loss of ₹88 crore in the year-ago quarter. On a standalone basis, Vedanta Iron and Steel reported net profit of ₹185 crore in Q1 FY27, compared with a profit of ₹225 crore in Q1 FY26. Separately, Vedanta Resources Limited disclosed encumbrances over 56.38% of Vedanta Iron & Steel shares held by subsidiaries under a US$ 2.25 billion facility agreement.

Vedanta Power posts losses despite higher income and sales

Vedanta Power Ltd, described as newly listed, reported a standalone loss of ₹449 crore for the quarter ended June 30, 2026, compared with a standalone net profit of ₹75 crore in the year-ago period. Standalone total income rose to ₹1,844 crore from over ₹1,734 crore, while total expenses increased to ₹1,985 crore from ₹1,638 crore. On a consolidated basis, the company posted a loss of ₹423 crore in Q1 FY27, versus a consolidated net profit of ₹88 crore in Q1 FY26. Consolidated income increased to ₹2,616 crore in Q1 FY27 compared with ₹1,991 crore in Q1 FY26. Another operational update said revenue rose 31% year-on-year to ₹2,607 crore, with power sales up 38% to 5,224 million units and EBITDA at ₹291 crore.

Vedanta Ltd posts ₹5,469 crore Q1 profit; CEO change announced

Vedanta Ltd reported net profit of ₹5,469 crore for Q1 FY27, up 144.8% from ₹2,234 crore in Q1 FY26. Revenue from operations rose 76.9% to ₹13,747 crore from ₹7,771 crore. Operating margin improved to 52% from 38%, while net profit margin expanded to 40% from 29%. The company also announced the appointment of Amarendu Prakash as CEO and whole-time director, effective August 1, 2026. Separately, a quick details card indicated a board meeting scheduled for July 30, 2026 to consider audited financial results and recommend a dividend for FY2027, along with disclosed metrics including net debt of ₹53,254 crore, market cap of ₹1,03,488.42 crore and CMP around ₹264.65.

Key numbers at a glance

Why the numbers matter for investors

The quarter highlighted how post-demerger reporting can produce large swings driven by one-time items, especially where discontinued operations are involved. For Vedanta Oil and Gas, the slump sale gain was central to the reported ₹945 crore consolidated profit, while continuing operations still reflected an impairment-linked hit tied to the Cambay PSC dispute referenced in the Delhi High Court order. Vedanta Iron and Steel’s turnaround was linked to higher revenue and sharply lower finance costs, and it also carried a notable disclosure on share encumbrances under a US$ 2.25 billion facility. Vedanta Power’s loss, despite higher income and higher sales volumes, underscored the pressure from rising expenses and the gap between top-line growth and bottom-line outcomes. Across the group, the data points show a mix of operating improvement, capital structure considerations, and exceptional items that investors need to separate from recurring performance.

Conclusion

Vedanta’s Q1 FY27 disclosures showed profit recoveries at Oil and Gas and Iron and Steel, while Power moved into a loss even as income increased. The next set of formal milestones includes Vedanta Ltd’s scheduled July 30, 2026 board meeting to consider audited results and a dividend recommendation, alongside the CEO change effective August 1, 2026.