Vedanta shares jump 4.5% to hit 52-week high on robust Q4 business data; details here

Shares of Vedanta hit their 52-week-high on Thursday after the company released its production numbers for the fourth quarter and year ended on March 31, 2024. The company said that it has delivered its highest-ever annual volume across key businesses.

The stock hit an intraday high of ₹312.50, up 4.5%, on the NSE. At 11.50 am, the scrip was trading with 2.64% gains at ₹306.70.

In Q4 FY24, the aluminium production at Vedanta's Lanjigarh refinery stood at 484 thousand tonnes (kt), reflecting an 18% increase year-on-year (YoY) and 3% quarter-on-quarter (QoQ) driven by better operational performance, the company said in a regulatory filing.

The cast metal aluminum production at the company's smelters was up 4% YoY at 598 kt.

In FY2023-24, the alumina production at Lanjigarh rose 1% YoY to 1,813 kt. Vedanta also recorded the highest ever cast metal aluminium production of 2,370 kt at its smelters, up 3% YoY.

Q4 FY24: Vedanta production update

• Mined metal production is up by 11% QoQ at 299 kt
• Total Zinc production is lower by 47% YoY and down by 20% QoQ
• Oil and Gas production is down by 14% YoY and 5% QoQ
• Ore production at 79 kt, up 55% YoY and 20% QoQ

Also read: Vedanta Aluminium commissions new 1.5 MTPA capacity at Lanjigarh refinery

FY24: production update

• Best-ever mined metal production at 1,079 kt, up 2% YoY
• Total zinc production down by 24% YoY at 208 kt
• Old and gas production down by 11% to 127.5 kt
• Ore production lower by 17% YoY to 240 kt

In Q3 FY24, Vedanta Limited reported an 18.3% fall in its net profit at ₹2,013 compared to ₹2,481 in the same quarter in 2022. However, the revenue rose 4% to ₹34,968 crore, the company's highest Q3 revenue ever.