Vedanta Oil And Gas Q2 Results, Company Swings To ₹746 Crore Profit From ₹92 Crore Loss; Revenue Rises 6%

Mumbai: Vedanta Oil and Gas Limited, formerly known as Malco Energy Limited, reported a consolidated net profit of Rs 746 crore for the second quarter ended September 30, 2026, compared with a net loss of Rs 92 crore in the corresponding quarter last year.

Revenue from operations increased 6.2 percent year-on-year to Rs 2,488 crore from Rs 2,342 crore, according to the company's unaudited financial results filed with the stock exchanges on Thursday.

Revenue Performance

The company's total income rose to Rs 2,628 crore during the September quarter, compared with Rs 2,544 crore in the year-ago period.

Total expenses declined 23.8 percent to Rs 1,853 crore from Rs 2,431 crore. Other expenses stood at Rs 1,528 crore, compared with Rs 1,462 crore a year earlier.

Finance costs fell to Rs 69 crore from Rs 171 crore, while depreciation, depletion and amortisation expenses declined to Rs 647 crore from Rs 667 crore.

Profit before exceptional items and tax increased sharply to Rs 775 crore from Rs 113 crore in Q2 FY26.

Quarterly Comparison

On a sequential basis, consolidated net profit declined 21.1 percent from Rs 945 crore in the June quarter.

However, the June-quarter profit included Rs 1,097 crore from discontinued operations, including an exceptional gain of Rs 1,056 crore.

Profit from continuing operations improved to Rs 746 crore in the September quarter from a loss of Rs 152 crore in the preceding quarter.

Revenue from operations declined marginally from Rs 2,507 crore in Q1 FY27 to Rs 2,488 crore in Q2 FY27.

Half-Year Results

For the six months ended September 2026, Vedanta Oil and Gas reported a consolidated net profit of Rs 1,691 crore, compared with a loss of Rs 195 crore in the corresponding period last year.

Revenue from operations increased 7.4 percent to Rs 4,995 crore from Rs 4,652 crore.

Total income stood at Rs 5,286 crore, while total expenses declined to Rs 4,397 crore from Rs 5,067 crore.

Cambay Block Dispute

The company disclosed continuing litigation concerning the extension of its production-sharing contract for the Cambay Block.

Following the Delhi High Court's July 2026 order, the company recognised an impairment charge of Rs 379 crore during the June quarter.

The matter remains under judicial consideration, with the company awaiting a decision on its appeal.

Statutory auditors Walker Chandiok & Co LLP issued an unmodified limited-review conclusion while drawing attention to the litigation-related uncertainty.

Disclaimer: This report is based on unaudited financial results filed by the company and does not constitute investment advice.