Vedanta Q3 earnings preview: Net profit may rise in double digits; here's why

Metals and mining major Vedanta is expected to post a strong set of earnings in the December 2025 quarter. The company, which will announce its Q3 earnings on January 29 (today), may log higher volumes amid firm base metal prices. 

According to analysts at brokerage Systematix, strong performance in the aluminium, zinc and the power segment will help offset a relatively weaker showing from the oil and gas segment.

Consolidated revenue is pegged at Rs 41,770 crore, rising 7 per cent year-on-year (Y-o-Y). Profit after tax (PAT) may rise 55 per cent Y-o-Y to Rs 5,490 crore. Updates on the demerger, expansion initiatives and commissioning timelines are expected to be announced in Q3 earnings. The brokerage expects EBITDA to rise 26 per cent Y-o-Y to Rs 14,010 crore, with margins rising to 33.5 per cent. 

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Emkay Global expects a sharp sequential rise in the aluminium segment and strong performance from Zinc India. Consolidated EBITDA is projected at Rs 14,940.5 crore, rising 28.7 per cent quarter-on-quarter (Q-o-Q) and 32.4 per cent Y-o-Y.
 
The brokerage expects aluminium and Zinc India segments to report EBITDA of Rs 4,920 crore and Rs 4,410 crore, respectively, led by higher average aluminium, zinc and silver prices, which rose 8.1 per cent, 11.7 per cent and 40.3 per cent Q-o-Q in the December 2025 quarter. 
 
The brokerage expects revenue rising 12.4% Y-o-Y to Rs 43,980.1 crore. Net profit may rise 65.4 per cent Y-o-Y to Rs 5,865.1 crore. EBITDA margins are seen around 34 per cent. 

Meanwhile, in the previous session, Vedanta shares hit a record high of Rs  741.90 on BSE. Later, the stock closed 4.46% higher at Rs 737.10 on BSE. Market cap of the firm rose to Rs 2.88 lakh crore. A total of 18.31 lakh shares of the firm changed hands amounting to a turnover of Rs 133.69 crore.