Vedanta Shares Surge 5% on Strong Q1 Profit

New Delhi, Aug 7 (PTI) Shares of mining conglomerate Vedanta Ltd jumped nearly 5 per cent on Wednesday a day after the firm reported 36.5 per cent rise in consolidated net profit for June quarter FY25.

The company's stock climbed 4.57 per cent to settle at Rs 432.50 on the BSE. During the day, it surged 5 per cent to Rs 434.30.

At the NSE, shares of the firm rallied 4.31 per cent to Rs 431.75.

Vedanta on Tuesday reported 36.5 per cent rise in consolidated net profit at Rs 3,606 crore for the June quarter of FY25 due to improved margins and robust cost reduction across all operations.

The company had posted a net profit of Rs 2,640 crore in the year-ago period.

Income rose to Rs 36,698 crore against Rs 34,279 crore in the year-ago period, according to an exchange filing.

Vedanta said in a statement that the proposed demerger of its businesses is on track and it has already filed the demerger scheme with the NCLT after getting a nod from secured creditors.

The company said that its board has approved a capex investment of USD 270 million for its oil and gas business.

Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate.