Mining major Vedanta Ltd on January 3 released its business update for the third quarter of fiscal year 2023-24, which showed that the company's mined metal production was up 7 percent year-on-year (YoY) and saleable silver output went up by 22 percent YoY.
The growth in mined metal production, which stood at 271 kilo tonne (kt) in Q3FY24, was "driven by mix of improved mined metal grades and higher ore production at Rampura Agucha and Sindesar Khurd Mines", the company said in a release.
Saleable silver production was 197 tonnes, "up 22 percent YoY in line with lead metal production", it added.
Vedanta claimed that it recorded the "highest-ever" production of mined metal and silver during a nine-month period. Between April and December, the mined metal output stood at 780kt, up 2 percent YoY driven by improved mined metal grades. Saleable silver production during the same period stood at 556 tonnes, up 5 percent YoY, it said.
Refined metal production stood at 259kt, up 1 percent YoY, during Q3FY24. In the same quarter, refined lead production was at 56kt, up 21 percent YoY on account of pyro operations on lead mode to maximise silver production, the company said.
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In the oil and gas category, the average production from the company's Rajasthan block stood at 104 kilo barrels of oil equivalent per day (kboepd) in Q3FY24, lower by 12 percent as compared to 118 kboepd in the year-ago period.
"Gas production from Raageshwari Deep Gas (RDG) averaged 133.7 million standard cubic feet per day (mmscfd) (equivalent to 22.3 kboepd)," the company said.
Vedanta also noted that its total power sales during the third quarter was up 12 percent YoY to 4,044 million units. The production of copper cathodes came in at 43kt, which is 27 percent higher as compared to Q3FY23, it said.
Furthermore, the company noted that its pig iron production stood at 203kt, up 1 percent YoY and down 7 percent QoQ, on account of capital shutdown of one smaller furnace.
In the trading session on January 3, Vedanta's scrip settled at Rs 263.65 apiece on the BSE, higher by 2.17 percent as against the previous day's close.
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