Thursday, June 20, 2024

Vedanta’s aluminium production muted in Q4 to 574,000 tonnes

Mining major, Vedanta reported a subdued performance in aluminium production to 574,000 tonnes in the fourth quarter of FY23. The company garnered a production of 572,000 tonnes in Q4 of FY22. However, aluminium production rose marginally by 1% from 566,000 tonnes in Q3FY23.

In Q4, Vedanta revealed that alumina production at the Lanjigarh refinery was down 7%QoQ and 18%YoY to 411 kt due to planned calciner shutdown.

Overall, in FY23, the aluminium production came in highest ever at 2,291 kt, up by 1% YoY with Jharsuguda ramp up. Meanwhile, alumina production at the Lanjigarh refinery was down 9% YoY due to planned shutdown and maintenance activities at calciners.

During the fourth quarter, Vedanta’s zinc business in India, posted a record quarterly mined metal production at 301 kt since the UG transition, up 2% YoY and 19% QoQ driven by higher ore production and improved mined metal grades.

Also, Zinc India registered highest ever quarterly refined metal production at 269 kt, up 3% YoY and 5% QoQ on account of better plant and mined metal availability.

Integrated zinc production was at 215 kt, up 2% YoY and 2% QoQ. Refined lead production was at 54kt up 10% YoY and 17% QoQ resulting from better plant availability and consistent mined metal flow from mines.

Meanwhile, saleable silver production stood at 182 tonnes. It increased by 13% YoY in line with lead metal production, and 13% QoQ in line with lead metal production and higher WIP depletion in the base period.

While Zinc International recorded a rise of 14%YoY in total production to 63 kt with better production both at Gamsberg and BMM.

Gamsberg production increased by 8% YoY — however, it was lower by 7% QoQ due to lower throughput. Also, BMM production was higher by 42%YoY with higher throughput, grades, and recoveries — but lower by 18% QoQ due to lower lead grade and recovery.

On BSE, Vedanta’s stock closed at 282.40 apiece up by 2.80%. The company’s market cap is nearly 1.05 lakh crore.

Catch all the Corporate news and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.

More
Less

#Vedantas #aluminium #production #muted #tonnes

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles