Vedanta sees 36% rise in Alumina production at Lanjigarh refinery in Q1, shares up over 1%

Zinc India, a subsidiary of Vedanta, saw a 2% YoY rise in mined metal production at 263 kt. The company reported a 1% YoY rise in refined metal production to 262 kt. Refined zinc production saw a 1% YoY rise at 211 kt while refined lead production was up 2% YoY at 51 kt. Meanwhile, saleable silver production saw a decline of 7% YoY at 167 tonnes.

Zinc International witnessed a 46% YoY decline in Gamsberg production at 26 kt due to lower tonnes milled and zinc grades. Black Mountain Mine’s production was down 41% YoY at 11 kt due to lower throughput and feed grades.

The company’s oil and gas business reported a 17% YoY decline in average daily gross operated production at 1.12 lakh barrels of oil equivalent per day (boepd). Rajasthan block’s average gross production was down 17% YoY to 92,700 boepd. The total oil & gas production declined 17% YoY to 10.2 million barrels of oil equivalent.

Vedanta’s pig iron production declined 4% YoY to 205 kt. The company reported the decline in pig iron production occurred due to a furnace shutdown towards the end of the first quarter.

The total production of steel rose 10% YoY to 356 kt on the back of improved operational efficiency. FACOR’s ore production was up 5% YoY to 80 kt while ferrochrome production was 3 times higher at 28 kt due to a plant shutdown in the first quarter of the previous year.

Copper cathode production declined 35% YoY to 20 kt. Meanwhile, the company’s power sales saw a 13% YoY rise to 4,791 million units.

Shares of the company have risen by nearly 83% since the beginning of the year. The stock has gained nearly 70% in the last one year.