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New Delhi, Jul 29 (PTI) Vedanta Iron and Steel Ltd (VISL) on Wednesday reported a consolidated net profit of Rs 122 cr for the quarter ended June 30, driven by increased volumes and a rise in steel and iron ore prices. However, the company had posted a net loss of Rs 142 crore in the year-ago quarter, Vedanta Iron and Steel said in a regulatory filing.
The company’s revenue from operations rose by 18.32 per cent year-on-year to Rs 3,662 crore in Q1 FY27, compared to Rs 3,095 crore in the corresponding quarter of the preceding fiscal. The Vedanta Group firm’s earnings before interest, taxes, depreciation and amortisation (Ebitda) surged 54 per cent YoY to Rs 515 crore, primarily driven by improved operational efficiency across our two steel plants
and better product realisations. The 55 per cent reduction in finance cost to Rs 207 crore in Q1 FY27 from Rs 461 cr in Q1 FY26 was primarily on account of reduced debt, pre- and post-demerger, it said. VISL delivered a resilient operational and financial performance in Q1 FY27 despite a dynamic market environment. Higher iron ore production, a record quarterly pig iron output, operational efficiencies across our steel businesses and continued focus on value-added products supported strong margin improvement, the company’s CEO and Whole Time Director Pankaj Kumar Sharma said. “We remain focused on executing our growth projects, improving cost competitiveness and building a sustainable platform for long-term value creation,” he added. VISL CFO Navin Jaju said that the company’s disciplined capital allocation, improving operating performance and focus on cash generation positions it well for the next phase of expansion.
Vedanta Iron and Steel, recently demerged from Vedanta Ltd and the June quarter earnings mark its first set of results as an independently listed entity.
With operations spanning India and Africa, VISL operates a diversified portfolio of mining and steelmaking assets, including Sesa Iron Ore, ESL Steel Ltd and Western Cluster Ltd in Liberia, alongside associated industrial businesses. PTI SID SHM
