Indian miner Vedanta posts quarterly profit rise on surge in base metal prices

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Higher average zinc prices in the ‌July-September quarter had been expected to boost revenue growth at Vedanta's ‌India zinc business

By Reuters

Updated - October 28, 2026 at 03:31 PM.

Indian metals-to-oil conglomerate Vedanta reported a rise in second-quarter profit on Wednesday, ​boosted by higher base metal prices. | Photo Credit: DANISH SIDDIQUI

Indian metals-to-oil conglomerate Vedanta reported a rise in second-quarter profit on Wednesday, ​boosted by higher base metal prices.

The ‌Mumbai-based miner's consolidated net profit rose ​9.11 per cent to ₹3,650 crore ($383.45 million) ⁠for the quarter ended September 30.

Here are the details:

• Higher average zinc prices in the ‌July-September quarter had been expected to boost revenue growth at Vedanta's ‌India zinc business, Emkay Global analysts ‌said.
• ⁠Spot zinc prices climbed 35 per cent ⁠on-year, according to Jefferies data, on tight supply conditions.
• Copper rose 44 per cent, benefiting from supply constraints ​and demand linked to ‌electrification and energy-transition projects, Jefferies data showed.
• Lead prices dropped 6 per cent due to weak growth in demand, while the demand-supply ‌equation remained more or less ​balanced.
• Higher commodity prices typically support selling prices and margins for ⁠mining companies.
• Vedanta's net profit margins expanded to 24 per cent from 13 per cent a year earlier.
• Its revenue rose about 57 per cent to ₹25,812 crore in the September quarter. Revenue from the company's combined India zinc and lead segment rose 59.5 per cent.
• The firm's cost of raw materials ‌climbed 42.5 per cent, pushing total expenses higher by nearly ​34 per cent to ₹18,476 crore.
• Last week, Vedanta group company Hindustan ⁠Zinc posted a more than twofold jump in ⁠quarterly profit, helped by higher metal prices, and cut its annual ‌zinc production cost forecast amid rising output and stronger by-product realisations.

Published on October 28, 2026

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