Vedanta Oil & Gas Limited, a prominent Indian private oil and gas exploration and production company, announced a significant turnaround in its financial performance for the first quarter of fiscal year 2027 (Q1 FY27). The company reported a net profit of Rs 945 crore, a substantial improvement compared to a loss of Rs 104 crore in the corresponding period of the previous fiscal year.
The company's revenue also saw a healthy increase, climbing 9% year-on-year to Rs 2,507 crore in Q1 FY27, up from Rs 2,303 crore recorded in Q1 FY26.
Operational Performance and Production Details
Despite the strong profit and revenue growth, Vedanta Oil & Gas reported a slight dip in its Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA). EBITDA for Q1 FY27 stood at Rs 1,232 crore, a 3% decrease from Rs 1,272 crore in the same quarter last year. However, this figure represents a 16% increase when compared to the Rs 1,057 crore EBITDA reported in the preceding March 2026 quarter.
Operationally, the company maintained steady production levels. The average gross operated production across its assets was 77.7 thousand barrels of oil equivalent per day (kboepd), while the average working interest production reached 51.1 kboepd.
By the end of the first quarter, total gross oil and gas production amounted to 7.1 million barrels of oil equivalent (boe). The total working interest production for the period was 4.7 million boe.
CEO Highlights Strategic Milestones
Jim Johnny Gast, Interim CEO and Whole Time Director at Vedanta Oil & Gas Limited, commented on the quarter's performance, stating, "Q1FY27 marked a defining milestone in our journey with the company’s listing on the BSE and NSE." He emphasized that the results reflect the business's resilience, focus on operational excellence, and success in exploration, including a recent Deep Gas discovery, alongside disciplined capital allocation.
Gast also highlighted the company's robust pipeline of near and medium-term growth opportunities. These include planned exploration drilling, enhanced oil recovery (ASP) projects, and infill development campaigns. These initiatives are strategically aimed at arresting production decline, enhancing overall production, and expanding resource base, positioning Vedanta Oil & Gas for sustainable growth and long-term value creation for its stakeholders.