Vedanta Iron and Steel Limited narrowed its consolidated net loss in the September quarter as EBITDA rose, while revenue from operations fell and demerger-related settlements reduced finance costs, the company said.
The company reported a net loss after tax of Rs 324 crore for the quarter ended Sept. 30, 2026, down from Rs 477 crore in Q2 FY26. EBITDA increased 56% to Rs 83 crore from Rs 54 crore. The EBITDA margin was 3%, up 112 basis points year over year. The board approved the unaudited results Oct. 27, and the statutory auditor gave them an unmodified conclusion in a limited review.
Revenue from operations totaled Rs 2,788 crore, about 2.4% below Rs 2,858 crore in the year-earlier quarter. The filing’s line labeled “Revenue” was Rs 2,742 crore, down from Rs 2,790 crore, while other operating income was Rs 46 crore, compared with Rs 68 crore.
The comparison incorporates the iron ore undertaking transferred from Vedanta Limited under a demerger that took effect May 1, 2026. Vedanta Iron and Steel said the prior-period figures for that business came from Vedanta Limited’s books.
The company credited higher steel realizations and efficiency gains for the EBITDA increase. It said seasonal interruptions to iron ore production and scheduled plant closures affected operations, while input and conversion costs rose. Its investor presentation also cited higher freight and raw-material expenses, including coking coal and fuel.
Finance costs fell 60% to Rs 171 crore from Rs 431 crore. The company linked the reduction to settling intercompany payables as part of demerger adjustments. It also said interest income declined after the demerger scheme eliminated receivables between divisions.
CEO Pankaj Kumar Sharma said VISL delivered “a stronger year-on-year operating performance in H1 FY27,” supported by improved steel realisations.
For the half year ended Sept. 30, revenue from operations rose 8% to Rs 6,450 crore from Rs 5,953 crore, while EBITDA increased 54% to Rs 598 crore from Rs 389 crore. The net loss narrowed to Rs 203 crore from Rs 622 crore. Pig iron production reached a half-year record of 568 kilotonnes, up 4% from a year earlier.
