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Vedanta reports production gains in metals

4 Jul 2024 , 10:29 AM

Vedanta Ltd, promoted by billionaire Anil Agarwal, reported increased production in aluminium, zinc, iron ore, and steel for the June quarter in its latest business update.

  • Aluminium production rose by 3% to 5,96,000 tonnes compared to the same period last year.
  • Zinc India saw saleable metal output increase slightly to 2,62,000 tonnes from 2,60,000 tonnes.
  • Saleable iron ore production increased to 1.3 million tonnes from 1.2 million tonnes year-over-year.
  • Total saleable steel production rose by 10% to 3,56,000 tonnes.
  • Zinc International’s mined metal output decreased significantly to 38,000 tonnes from 68,000 tonnes in the first quarter of FY24.
  • Oil and gas production dropped by 17% to 112,400 boepd, down from 134,900 boepd the previous year.
  • Power sales increased by 13% to 4,791 million units from 4,256 million units compared to the April-June period of the last financial year.

At the time of writing on July 4, 2024 at 10:26 pm, shares of Vedanta is is currently trading at ₹465.35 which is a 0.31% gain than the previous close. The stock has gained a total of 67% in the last one year, and 80% since the beginning of the year.

Vedanta’s promoter entities recently sold 2.6% equity through banks, following nearly 10% equity sales since December 2022, despite earlier statements from Group Chairman Anil Agarwal indicating no such plans.

Related Tags

  • production gains
  • Vedanta
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