Mining major Vedanta posted a 38% decline in net profit year-on-year for the quarter ended September 30 on the back of an exceptional loss of Rs 1,547 crore on account of write-offs and settlement expenses at its Talwandi Sabo Power plant.

Talwandi Sabo Power wrote off Rs 1,407 crore in receivables after the Supreme Court ruled against its mega power benefit claim. It also paid $75 million (~Rs 660 crore) to SEPCO under a settlement agreement, following contract termination and ongoing arbitration, both recorded as exceptional items. The impact was partially offset by exceptional gains of Rs 520 in deferred taxes.

Net profit for the quarter came in at Rs 3,479 crore as compared to Rs 5,603 crore reported in Q2FY25, and was behind Bloomberg estimates of Rs 3,630 crore.

Excluding one-t

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