In Zinc India business, metal production for Q2 FY22 was at 248,000 tonnes, up 4% as compared to Q2 FY21 on account of higher ore production at Rampura Agucha, Sindesar khurd & Zawar mines supported by improvement in recovery, which was partly offset by lower mining grades. In comparison to Q1 FY22, the production is up by 12%, mainly due to higher ore production at Sindesar Khurd and improvement in mining grade & recovery. Integrated zinc production stood at 162,000 tonnes, down 10% as compared to Q2 FY21 and down by 14% as compared to Q1 FY22. Integrated lead production was 47,000 tonnes for Q2 FY22, down 18% as compared to Q2 FY21 on account of annual shutdown at Dariba Lead Smelters and down 4% as compared to Q1 FY22.
Integrated saleable silver production was reported at 4.9 moz (152 MT), down 25% as compared to Q2 FY21 in line with lower lead production & depletion of WIP in Q2 FY21 & down 5% as compared to Q1 FY22.
In Zinc International segment, total production for Q2 FY22 was 55,000 tonnes, 8% higher than Q2 FY21 because of higher throughput. Q2 FY22 production was 11% lower compared to Q1 FY22 production due to lower throughput and recoveries.
In oil & gas space, average gross operated production during Q2 FY22 was at 165,327 barrels of oil equivalent per day (boepd), flat compared to Q2 FY21 and Q1 FY22. Vedanta said the natural field decline has been offset by increase in volume primarily due to gains realized from ramp up of gas sales (post COVID).
In steel business, saleable production for Q2 FY22 was 2,93,000 tonnes, higher by 13% as compared to Q2 FY21, mainly due to COVID-19 restrictions in Q2 FY21. Saleable production was higher by 1% Q-o-Q primarily due to improvement of furnaces post shutdown in Q2 FY22.
During Q2 FY22, Vedantas power sales were at 2,905 million units lower by 27% as compared to Q2 FY21 and 7% higher as compared to Q1 FY22. Power sales at TSPL were 1791 million units with 60% plant availability factor in Q2 FY22.
Vedanta, a subsidiary of Vedanta Resources, is one of the worlds leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa, Namibia, and Australia. The companys consolidated net profit soared 247% to Rs 5,282 crore on a 79.2% jump in net sales to Rs 28,105 crore in Q1 FY22 over Q1 FY21.
Shares of Vedanta were up 1.36% at Rs 302.45. The stock hit a high of Rs 304.50 and a low of Rs 299 so far.
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