Vedanta Ltd Reports 4% Increase in Aluminium Production in Q4 FY24
Vedanta, a major player in the diversified natural resources sector, has announced a 4% rise in its aluminium production for the fourth quarter of FY24, reaching 598,000 tonnes, compared to the same quarter last year. The increase from the previous year's production of 574,000 tonnes highlights the company's operational achievements.
Further enhancing its performance, Vedanta's alumina production at its Lanjigarh refinery in Odisha saw an 18% surge, totaling 448,000 tonnes. This growth is attributed to the company's enhanced operational efficiency.
However, in the zinc sector, Vedanta experienced a slight decrease in mined metal production at Zinc India, reporting 299,000 tonnes for Q4, a minor drop from 301,000 tonnes in the corresponding quarter of FY23. Despite this, refined zinc production saw a 2% increase, reaching 220,000 tonnes, although refined lead production experienced a decline during the same period.
Vedanta's oil and gas segment also faced challenges, with average gross operated production dropping to 117.8 thousand barrels of oil equivalent per day (kboepd) in Q4 FY24, down from the previous year, particularly in the company's Rajasthan block, which saw a 13% decrease in production.
On a positive note, Vedanta's iron ore business in Karnataka reported a 13% increase in saleable ore output, achieving 1.7 million tonnes in Q4 FY24, thanks to operational efficiency and process improvements. Pig iron production also saw a growth of 6% year-on-year, driven by enhanced process efficiency. However, the total saleable steel production encountered an 11% reduction in the same period.
Vedanta's FACOR business unit, on the other hand, marked a significant 55% year-on-year increase in ore production in Q4 FY24, reaching 79,000 tonnes, attributed to operational improvements. The ferro chrome production also witnessed a notable increase of 38% year-on-year, thanks to capacity enhancements and productivity improvements.
