Vedanta's Saleable Steel Production Jumps 10% In April-June Quarter

Vedanta Ltd. has reported a 10% jump in production of saleable steel or finished products to 356 KT in the first quarter of fiscal 2025. The overall power sales also saw a jump in the quarter ended June 30, 2024.

Cast metal aluminum production went up 3% year-on-year to 596 KT, compared to the same period in the previous year, the company said in a business update on Wednesday. The production of alumina at Lanjigarh refinery was at 539 KT, up 36% year-on-year, driven by new capacity.

Mined zinc production in the first quarter was at 263 kt, a 2% year-on-year growth, with improved mined metal grades. While saleable zinc production saw 1% growth year-on-year, it fell 4% sequentially. International zinc production, on the other hand, saw a drop of 45%.

Production of saleable silver saw a dip of 7% at 167 tonnes in the first quarter.

The average gross operated oil production in the first quarter of FY25 was at 112.4 kboepd. This is 17% lower than 134.9 kboepd reported in the same period a year ago. The average daily working interest production also saw a 14% dip at 73.7 kboepd.

Production of saleable iron ore in the Karnataka mine was down 4% year-on-year due to temporary suspension of production in May 2024.

Overall power sales rose 13% to 4,791 million units in the April-June quarter. Wind power generation fell 11% year-on-year to 108 million units based on the seasonal change.

On Wednesday, shares of Vedanta closed 1.28% higher at Rs 463.70 apiece, compared to a 0.67% advance in the NSE Nifty 50.