Vedanta Q2 update: Anil Aggarwal -led Vedanta Limited released business updates of the September quarter of the current financial year on Saturday 4 October. The company said that alumina production at its Lanjigarh Refinery reached 31 percent 6.53 lakh tonnes on an annual basis. This is the highest production so far recorded in a quarter. At the same time, aluminum production also remained at a record level and was 6.17 lakh tonnes with an annual growth of 1 percent.
Zinc India also recorded its highest mining metal production in September, which grew by 1 percent to 258 kilotons on an annual basis. At the same time, this figure was 523 kiloton in the first half of the current financial year. Refined zinc production increased by 2% to 202 kilotons compared to the previous year, while the production of refined lead was 29% less than last year due to low availability of Pyro plant.
However, sellable silver production declined by 22% compared to last year and was 144 tonnes. Zinc International recorded the production of 60 thousand tonnes of mining metal, which is 38 percent more on an annual basis. Gamsburg Mines contributed the most to this, which led to a 54 percent rise in production.
The production of sellable Ryan on the iron and segment declined by 19 percent to 11 lakh tonnes, while the production of pig iron increased by 26 percent to 2.38 million tonnes, which was possible due to increasing the capacity of blast furnace.
The average daily gross production in oil and gas business declined by 15 percent to 89.3 thousand barrel oil equivalent daily. The main reason for this was the decline in production from Rajasthan and Ravwa blocks. Production prepared in steel business declined by 8 percent to 2.74 lakh tonnes, as maintenance work was done in a furnace.
However, billet production jumped 43 percent to 2.32 lakh tonnes and TMT bar increased by 18 percent to 1 lakh tonnes. The ore production in FACOR increased by 24 percent annually to 47 thousand tonnes.
Stock conditions
Vedanta Limited shares closed at Rs 470.80 with a rise of 1.30 percent on BSE on Friday 4 October. Vedanta’s shares have rose by about 8.22% in the last one month. However, since the beginning of this year, this stock has increased by just 6 percent.
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