Vedanta’s aluminium production declines 2% to 5,66,000 tonnes in December quarter; stock slips ~3%

4 Jan 2023 , 10:19 AM

Vedanta announced that its total aluminium production fell by 2% to 5,66,000 tonnes in the third quarter of the current fiscal year. In the previous year, the company’s total aluminium output was 5,79,000 tonnes.

Due to maintenance activities in calciners, lumina production at the Lanjigarh refinery decreased by 6% year on year and 2% quarter on quarter to 443kt.

At Zinc India, mined metal production increased marginally by 1% to 2,54,000 tonnes in the third quarter.

In the third quarter, Karnataka’s production of saleable iron ore increased by 17% to 1.5 million tonnes (MT) from 1.2 MT the previous year.

In Q3, finished steel production fell to 3,06,000 tonnes from 3,50,000 tonnes in the previous fiscal’s corresponding quarter.

Following this development, Vedanta’s counter dipped about 2.63% at Rs311.15, against its previous close of Rs319.55 on NSE. The counter touched an intraday high and low of Rs318.40 and Rs309.10 respectively.

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