Anil Agarwal-led Vedanta Ltd reported a sharp 59% drop in net profit to ₹1,798 crore for the September quarter, despite a 6% rise in revenue to ₹39,868 crore—its highest ever for a second quarter. The decline was mainly due to a one-time write-off linked to its subsidiary Talwandi Sabo Power Ltd (TSPL), which lost a ₹1,407 crore claim in the Supreme Court under a government power project scheme. TSPL also settled a legal dispute with Sepco for ₹660 crore. However, Vedanta’s Ebitda rose 12% year-on-year to ₹11,612 crore, aided by strong aluminium, zinc, and silver prices.
Shares fell 2.6% to ₹493.60 as the company faces delays in its proposed demerger into five listed entities, opposed by the petroleum ministry. The NCLT hearing is set for 12 November, with completion expected by March 2026 if approvals come soon. Meanwhile, Vedanta remains confident of acquiring bankrupt Jaiprakash Associates for ₹17,000 crore after receiving CCI approval, though analysts question the move’s alignment with its simplification goals.