Vedanta Q2FY23 aluminium output rises 2% YoY to 584,000 tonnes

The mineral and metal miner said that its aluminium production increased 2% year-on-year and 3% quarter-on-quarter to 5,84,000 tonnes in Q2 September 2022.

The mined metal output of Zinc in India during the July-September quarter rose 3% to 2,55,000 tonnes as against 2,48,000 tonnes in the same period of the previous fiscal. The performance was driven by better grades and improved mill recoveries.

First half mined metal production at 507,000 tonnes was higher by 8% YoY, on account of increase in ore production, further supported by better grades and improved operational efficiency, the company said in its statement.

The company said its overall international Zinc production increased 35% YoY and 9% QoQ to 74,000 tonnes in line with ramp-up at Gamsberg, South Africa.

In oil & gas segment, the company's overall average gross operated production fell 15% YoY to 140,471 boepd during the quarter.

The production of finished steel went up by 11% to 3,25,000 tonnes compared with 2,93,000 tonnes in the year-ago quarter.

The total power sale increased 24% to 3,615 million units (MU) from 2,905 MU in the second quarter of previous fiscal.

Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia.

On consolidated basis, Vedanta's net profit rose 6% to Rs 5,592 crore on 36% increase in net sales to Rs 38,251 crore in Q1 FY23 over Q1 FY22.

Shares of Vedanta rose 1.92% to Rs 273.45 on the BSE.

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