Vedanta's Q3 aluminium output rises 3%, achieves record mined metal production

Despite the broad-based selloff on Friday, Vedanta shares rallied 2 percent to Rs 458.

Vedanta reported a 3 percent year-on-year increase in aluminium production, reaching 614 kilotonnes in the third quarter, as per provisional business updates released on Friday. During the October-December period, mined metal output rose 3 percent sequentially to 265 kilotonnes, driven by higher grades and increased production at the Agucha and Zawar mines. Refined zinc production also improved 3 percent sequentially to 204 kilotonnes.

The company achieved record-high nine-month mined metal production, supported by improved grades and enhanced mill recovery. Refined metal output also reached a new peak, with refined zinc production rising 3 percent and refined lead production increasing 4 percent, aided by robust plant performance and availability.

Also read: HDFC Bank gets RBI nod to purchase 9.5% stake in AU Small Finance Bank

Meanwhile, oil and gas production dropped 19 percent year-on-year to 9.1 million barrels of oil equivalent per day. Pig iron production climbed 7 percent to 217 kilotonnes, reflecting the relining of a smaller furnace, while total pig iron output rose 14 percent sequentially, recovering from a planned blast furnace shutdown and heavy monsoon disruptions in the prior quarter.

Saleable ore production grew 10 percent to 1.5 million tonnes, while saleable steel production surged 11 percent sequentially to 329 kilotonnes, rebounding after maintenance shutdowns in the previous quarter. Copper production also recorded a 9 percent sequential increase, reaching 45 kilotonnes.

Read more: E-commerce, gaming, social media platforms to delete personal user data after 3 years: Draft DPDP rules

Vedanta’s shares ended 1.8 percent higher at Rs 457.9 on Friday, outperforming the BSE Sensex, which declined 0.9 percent. The business update was released post-market hours. Over the last 12 months, the stock has gained 73 percent.

Despite the broad-based selloff on Friday, Vedanta shares rallied 2 percent to Rs 458. Vedanta shares have fallen almost 11 percent in the last three months.