- Advertisment -

Vedanta Second Quarter Results: Net loss at ₹915 crore over tax rate changes, revenue up 6% to ₹38,546 crore

Join Us

Vedanta, a big company that works with metals and mining, shared its financial results for the period from July to September 2023 (Q2FY24) on November 4th. They reported a loss of ₹915 crore, which is a decrease from the ₹2,690 crore profit they had in the same period last year. This loss happened because of a one-time expense related to new tax rules.

In this quarter, Vedanta made ₹38,546 crore in revenue, which is a 6.37% increase from the ₹36,237 crore they made in the same period last year. This is their best-ever revenue growth for the second quarter. They made more money because they sold more, got good exchange rates, and won in a legal dispute. However, they also had some losses due to lower prices for their products and other financial factors.

Their EBITDA (a measure of profitability) in the September quarter was ₹11,080 crore, a 52.2% increase from ₹7,282 crore in the same period last year. Hindustan Zinc Ltd, a company connected to Vedanta that makes zinc, didn’t do so well this quarter. They made 35% less money than expected. Vedanta is trying to change the structure of its business and divide it into six different parts, and investors are interested in how they will deal with their debts.

Vedanta’s aluminum business did poorly because of low demand and lower prices. They made ₹11,952 crore, which is more than 11% less than last year. However, their copper business made 15% more money, reaching ₹4,606 crore, and the oil & gas business increased its revenue to ₹8,229 crore from ₹3,869 crore in the previous year.

Earlier this year, Vedanta decided to split its business into six separate companies to create more value for its shareholders. These companies will focus on different areas like aluminum, oil & gas, and steel. Vedanta Ltd, a part of Vedanta Resources Ltd, works in various natural resource sectors in India, South Africa, and Namibia. On the stock market, Vedanta’s shares went up by 1.66% and settled at ₹232.85 apiece on the BSE.


Vedanta’s second-quarter results for the fiscal year 2023-24 showed a significant shift from profit to loss due to a one-time tax-related expense. Despite this loss, the company achieved its highest-ever second-quarter revenue growth, with increased sales volume, exchange rate benefits, and favorable legal outcomes. Vedanta’s ongoing restructuring efforts aim to unlock shareholder value by splitting the business into six separate entities, each focusing on different sectors. While certain segments, like aluminum, faced challenges, others, including copper and oil & gas, demonstrated revenue growth. Vedanta remains a diversified player in the global natural resources industry, positioning itself for future growth.

- Advertisment -
Trending Now