Skip to content
Search

Latest Stories

Vedanta September quarter profit jumps 61 per cent 

METALS and mining giant Vedanta recorded a nearly 61 per cent rise in its consolidated profit for the September quarter, the company said on Thursday (14).

The Anil Agarwal-controlled firm’s profit stood at Rs 21.58 billion, or £233.43 million, when compared to the Rs 13.43bn recorded in the same quarter of the last financial year.


The consolidated revenue fell 3.29 per cent year on year (YoY), coming at Rs 219.58bn (£2.38bn) in the second quarter of the current financial year when compared to last year’s Rs 227.05bn.

The headwinds in commodity prices resulted in a decline in the revenue, the company said. It witnessed a one-time deferred tax benefit of Rs 18.91bn (£204.55m) in the quarter.

Srinivasan Venkatakrishnan, chief executive officer at Vedanta, said: “We are at an exciting transition that will see the company accelerate in the expansion of its reserves and resource base over the coming quarters. This expansion is being delivered through strict capital allocation and balance sheet focus aimed at creating value for our stakeholders.

“As we look forward to the year, we have in place the building blocks to enhance our performance in the three key businesses. We have immense confidence in being able to deliver the best from our assets and people whilst always being committed to our core values around ethics, governance and social responsibility.”

The company stated that its balance sheet improved during the September quarter.

Vedanta said: "The gross debt reduced by Rs 32.79bn (£354.69m), in line with our continued focus on deleveraging, and the net debt reduced by Rs 83.22bn (£900m) in Q2FY2020. The net debt/EBITDA at 0.9 times is lowest among Indian peers.”

In the Zinc India segment, ore production rose by three per cent at 3.6 million tonnes with strong growth at Rampura Agucha and Zawar Mines.

In the Zinc international segment, Gamsberg production stood at 24,000 tonnes in the second quarter and a ramp-up is in progress, according to the company.

Alumina production of 410,000 tonnes rose 18 per cent YoY in the last quarter.

Vedanta emerged as the highest bidder for Jamkhani coal block in Odisha, the company said.

It recorded the highest ever quarterly iron ore sales in the southern Indian state of Karnataka at 1.4 million tonnes.

More For You

Kolhapuri sandal sales surge in India post Prada controversy

Customers shop for 'Kolhapuri' sandals, an Indian ethnic footwear, at a store in New Delhi, India, June 27, 2025. REUTERS/Adnan Abidi

Kolhapuri sandal sales surge in India post Prada controversy

INDIAN footwear sellers and artisans are tapping into nationalist pride stoked by the Prada 'sandal scandal' in a bid to boost sales of ethnic slippers with history dating back to the 12th century, raising hopes of reviving a struggling craft.

Sales are surging over the past week for the 'Kolhapuri' sandals that have garnered global attention after Prada sparked a controversy by showcasing similar designs in Milan, without initially crediting the footwear's origins.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy grew 0.7 per cent in Q1 2025, fastest in a year

THE UK economy expanded at its fastest pace in a year during the first quarter of 2025, driven by a rise in home purchases ahead of a tax deadline and higher manufacturing output before the introduction of new US import tariffs.

Gross domestic product rose by 0.7 per cent in the January-to-March period, the Office for National Statistics (ONS) said, confirming its earlier estimate. This was the strongest quarterly growth since the first quarter of 2024.

Keep ReadingShow less
modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Key issues in India, US trade talks

TRADE talks between India and the US have hit a roadblock over disagreements on duties for auto components, steel and farm goods, Indian government sources said to Reuters, dashing hopes of reaching an interim deal ahead of president Donald Trump's July 9 deadline to impose reciprocal tariffs.

Here are the key issues at play:

Keep ReadingShow less
Trump-Getty

Trump said that while deals are being made with some countries, others may face tariffs.

Getty Images

Trump says major trade deal with India may be finalised soon

US PRESIDENT Donald Trump on Friday said a "very big" trade deal could be finalised with India, suggesting significant movement in the ongoing negotiations between the two countries.

“We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India," Trump said at the “Big Beautiful Bill” event at the White House.

Keep ReadingShow less
Asda suffers nearly £600m loss as debt and IT costs surge

Asda co-ownerMohsin Issa. (Photo: Asda)

Asda suffers nearly £600m loss as debt and IT costs surge

ASDA, one of Britain’s largest supermarkets, has reported a pre-tax loss of £599 million for 2024, swinging sharply from a £180 million profit the previous year.

The loss comes despite total sales rising by over £1 billion to £26.8bn, as the retailer faces mounting debt costs, falling sales, and spiralling spending on a major IT overhaul, the Telegraph reported.

Keep ReadingShow less