Vedanta Ltd on Friday announced that it has recorded its highest ever aluminium production during the first half and the second quarter of the current financial year. While the company reported a rise in production of aluminium, zinc, iron ore in Q2FY25, the production of steel, mined metal overseas and oil & gas dropped during the quarter in review.
In a regulatory filing, Vedanta said that the aluminium production during H1 of FY25 jumped by 3 per cent to 1,205 kilotonnes (kt) driven by operational efficiencies. The company also reported a record half-year alumina production of 1,039 kt, posting a growth of 21 per cent YoY. For the September quarter, the company recorded aluminium production at 609 kt, posting 3 per cent growth on-year.
Zinc India, Vedanta added, recorded a new high for mined metal production in the first half of the year with higher ore treatment and overall improved mined metal grades. The production of refined metal increased by 5 per cent YoY to 524 kt in the first half of the year, with refined zinc increasing 4 per cent YoY and refined lead by 7 per cent YoY. For the second quarter of FY25, refined zinc recorded a growth of 7 per cent and refined lead production grew by 12 per cent on-year. Silver, meanwhile, posted a volume jump of 10 per cent sequentially.
Zinc International, Vedanta said, recorded mined metal production during the second quarter at 44 kt, down 34 per cent on-year. Sequentially, Q2 production jumped by 16 per cent supported by 26 per cent increase at Gamsberg and 4 per cent at BMM.
Meanwhile, oil & gas production dropped by 22 per cent to 104.9 kboepd (barrels of oil equivalent per day). The vertical posted volume growth under Open Acreage Licensing Policy (OALP) arrangement by 3.8 kboepd in H1, supported by ramp up of Jaya oilfield. The natural decline in the MBA fields partially offset by infill wells brought online in Mangala and RDG fields, the company said.
Vedanta said that the iron ore volumes increased by 6 per cent to 2.6 mn tonnes in H1, while the Pig Iron production was adversely impacted due to maintenance activity. For steel, production was adversely impacted due to the planned shutdown on account of the debottlenecking of Steel Melting Shop and maintenance of Oxygen Plant in Q2. Copper production during the second quarter of FY25 increased by 16 per cent, contributing to Vedanta’s overall positive performance despite a 15 per cent decline in wind power generation due to adverse weather conditions. In the power sector, sales during the second quarter recorded growth of 7 per cent and the H1 power sales grew by 10 per cent YoY despite a decline in wind power generation of 15 per cent due to weather conditions.
From: financialexpress
Financial News
