BackVedanta Q2 Update: Aluminium production rises 2% YoY to 5.94 lakh tonnes
Vedanta's mined metal output at Zinc India was down 1% to 2,52,000 tonnes from over 2,55,000 tonnes in the year-ago period.
PremiumVedanta Ltd reported a 2% rise in its total aluminium production to 5,94,000 tonnes in the second quarter of FY24. The company’s total aluminium output in the July-September period of the last fiscal was 5,84,000 tonnes.
The mined metal output at Zinc India was down 1% to 2,52,000 tonnes from over 2,55,000 tonnes in the year-ago period.
At Zinc International, Vedanta said its total mined metal output declined by 10% to 66,000 tonnes from 74,000 tonnes, year-on-year (YoY).
Also Read: DMart's revenue jumps by 18.5% YoY to ₹12,308 crore in Q2
The company's overall production during Q2FY24 at 66 kt was lower by 10% YoY and 3% QoQ largely due to lower tonnes treated.
Its saleable steel production increased 17% YoY to 3,78,000 tonnes on account of improved operational efficiency and higher production capacity post debottlenecking carried out in FY23, the company said in a stock exchange filing.
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Power sales increased by 12% to 4,048 million units (MU) from 3,615 MU in the year-ago period.
On September 29, the billionaire Anil Agarwal-led Vedanta had announced a complete restructuring that included the demerger of its diversified business into six separate listed companies.
Read here: Vedanta to demerge biz into six firms
Under the proposed demerger, the existing company will be split into Vedanta Aluminum, Vedanta Oil and Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals and Vedanta Ltd.
It was reported that Vedanta Resources Plc is in advanced talks with JPMorgan Chase and Standard Chartered Bank to secure a $3 billion refinancing facility to avert a default.
Read here: Vedanta Resources nears $3 billion refinancing deal
At 9:30 am, Vedanta share price was trading 0.93% lower at ₹228.65 apiece on the BSE.
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