Vedanta Q3 Business Updates: Aluminium Production Up 3%, Zinc Down 2%

Vedanta Ltd.'s aluminium production increased 3% on a yearly basis to 614 kilotonne in the third quarter, according to provisional business updates released on Friday.

In the October-December period, mined metal production increased by 3% sequentially to 265 kt, driven by higher grades and a rise in production at the Agucha and Zawar mines, the company said.

Refined zinc production also saw a 3% sequential increase to 204 kt.

The company reported its best-ever nine-month mined metal production, which was bolstered by improved mined metal grades and better mill recovery. Additionally, the nine-month refined metal production reached an all-time high, with a 3% increase in refined zinc and a 4% increase in refined lead production, in line with plant availability and operational performance.

On the other hand, oil and gas production declined 19% year-on-year to 9.1 million barrels of oil equivalent per day.

Pig iron production rose 7% to 217 kt on account of the relining of one smaller furnace and 14% on account of the planned shutdown of a large blast furnace and heavy monsoon in the second quarter.

The production of saleable ore jumped 10% to 1.5 million tonnes.

Total saleable steel production rose 11% sequentially to 329 kt on account of planned maintenance shutdown in the previous quarter.

Copper production increased by 9% sequentially to 45

Shares of Vedanta closed 1.8% higher at Rs 457.9 apiece, compared to a 0.9% decline in the benchmark BSE Sensex. The business updates came after market hours. The stock has gained 73% in the last 12 months.