Vedanta Oil & Gas shares dipped 4% to Rs 33.79 on the BSE on Thursday, even as the recently listed company reported a consolidated net profit of Rs 945 crore for the first quarter of FY27. This marks a sharp turnaround from a net loss of Rs 104 crore in the year-ago period and a net loss of Rs 479 crore in the March quarter.
The company delivered the profit despite reporting a net exceptional loss of Rs 441 crore during the quarter. Revenue from operations rose about 8.5% year on year to Rs 2,507 crore from Rs 2,311 crore in the corresponding quarter of the previous financial year.
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Operating performance, however, was mixed. EBITDA declined 3% year on year to Rs 1,232 crore in the April-June quarter. The company said global oil production and supply chains continued to face disruptions, with uncertainty around the opening of the Strait of Hormuz and the conflict in the Red Sea adding to the challenges. It added that the offtake of Middle Eastern oil production has been disrupted significantly, while global supply chains continue to adjust to the evolving situation.
Production also remained under pressure during the quarter. Average daily gross operated production fell 17% year on year to nearly 78 kboepd, while average daily working interest production declined 16% to 51 kboepd. This came even as Brent crude prices surged 54% year on year to $104 per barrel during the quarter amid the ongoing conflict in the Middle East.
Vedanta Oil & Gas commentary
Commenting on the results, the company said its EBITDA, revenue and profitability reflected resilient operations and a continued focus on improving efficiency for long-term sustainable growth. Interim CEO and Whole-time Director Jim Johnny Gast said Q1 FY27 marked a key milestone with the company's listing on the BSE and NSE. He added that the quarter reflected operational resilience, exploration success through a Deep Gas discovery and disciplined capital allocation.
Gast also said the company is advancing a pipeline of near and medium-term growth opportunities, including exploration drilling, enhanced oil recovery (ASP) and infill development campaigns aimed at arresting production decline, increasing output and creating long-term value for stakeholders.
Vedanta Oil & Gas was listed on the NSE at Rs 38 per share on June 15 following the Vedanta demerger, with a market capitalisation of Rs 14,859.47 crore at debut. It has gained more than 6% over the past week but remains down over 2% so far in 2026.
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