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Business EconomyPosted at: Nov 8 2024 4:54PM


Vedanta reports Rs 5,603 crore profit in Q2, revenue down

New Delhi, Nov 8 (UNI) Mining major Vedanta Ltd on Friday reported a consolidated net profit of Rs 5,603 crore for July-September quarter (Q2) of the current financial year 2024-25.
The company had posted a loss of Rs 915 crore in the Q2 of previous financial year 2023-24.
On a sequential basis, Vedanta's profit in the September quarter of the current financial year rose 10%.
The company's revenue from operations during the Q2 of FY25 stood at Rs 37,171 crore, down 3.56 as compared to Rs 38,546 crore in the corresponding period of the previous financial year.
Gross debt of the company was Rs 78,654 crore as on 30th September 2024.
“This has been an outstanding quarter, highlighted by significant progress in our corporate and strategic initiatives, strong financial results, and excellent operational performance," said Ajay Goel, CFO, Vedanta.
Goel noted that the strong performance was driven by cost efficiency, volume growth, and favourable commodity prices.
Arun Misra, Executive Director Vedanta said, "The second half of this year will be a transformative period with our major growth and integration projects coming online and ramping up. Through our structural interventions and initiatives, we have significantly reduced our cost of production over the past 12-15 months, and we will continue this trend in the coming quarters."
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