Vedanta records aluminum production of 5.66 lakh tonnes in Q3 FY23

Vedanta said that the total aluminium production declined by 2% to 5,66,000 tonnes in Q3 FY23 from 5,79,000 tonnes in Q3 FY22.

The company stated that the alumina production at Lanjigarh refinery decreased by 6% YoY and 2% QoQ to 4,43,000 tonnes due to maintenance activities in calciners. The cast metal Aluminium production at smelters decreased 2% YoY and 3% QoQ, it added.

Zinc India's mined metal production for the quarter ended 31 December 2022 stood at 2,54,000 tonnes, up 1% YoY driven by higher ore production.

Zinc International recorded 32% YoY rise in overall production increased to 70,000 tonnes with continued ramp-up at Gamsberg. It was, however, lower by 6% QoQ due to lower grades.

Production of saleable iron ore in Karnataka rose 17 per cent to 1.5 million tonnes (MT) in the third quarter over 1.2 MT in the year-ago period.

The finished steel production in Q3 FY23 was 3,06,000 tonnes, lower by 13% YoY and 6% QoQ due to maintenance activities in blast furnace in Q3 FY23.

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 declined 53.71% to Rs 2,690 crore despite of 20.6% increase in revenue from operations to Rs 36,237 crore in Q2 FY23 over Q2 FY22.

The scrip shed 0.17% to currently trade at Rs 530.75 on the BSE.

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