Vedanta net profit plunges 59% on exceptional losses

Mining major Vedanta’s consolidated net profit plunged 58.69 per cent year-on-year (Y-0-Y) to %1,798 crore inthe second quarter of 2025-26 (Q2FY26), dragged down by exceptional losses booked during the period under review. The company had reported anet exceptional gain of $1,160 crore in Q2FY25.

- ROSHNI SHEKHAR

‘The exceptional loss included a write-off of 1,407 crore in Talwandi Sabo Power (TSPL), a wholly owned subsidiary of Vedanta, in pursuant to a Supreme Court order dated in August 19.

A review petition by TSPL is pending in court, but the amount has been considered nonrecoverable. On the other hand, it also includes a settlement payment of %660 crore to SEPCO Electric Power Construction Corporation. Its revenue rose by 5.94 per cent to $39,868 crore in the quarter under review.

‘According to the company’s earnings release, revenue was driven by higher London Metal Exchange (LME) premia and forex (foreign exchange) gain, partly offset by lower volume.