Vedanta said its total aluminum production grew 17% to 5,49,000 tonnes in Q1 FY22 compared with 4,69,000 tonnes in Q1 FY21.
The cast metal aluminum production (including trial run) at the firm's smelters in Jharsuguda and BALCO stood at 549,000 tonnes in Q1 FY22, higher by 17% in comparison to Q1 FY21, mainly due to ramp-up of pots. The production was higher by 3% in comparison to Q4 FY21, the company said in a statement.In zinc (India), integrated metal production was 236,000 tonnes for Q1 FY22, up 17% as compared to Q1 FY21 in line with higher availability of mined metal and down 8% as compared to Q4 FY21 on account of lower mined metal production.
Integrated saleable silver production was 5.2 moz, up 37% as compared to Q1 FY21 on account of higher lead production & reduction in WIP and down 21% as compared to Q4 FY21 in line with lower lead production and lower grades at SK mines.
In zinc (international), total production for Q1 FY22 was 61,000 tonnes, higher by 62% as compared to Q1 FY21 mainly due to higher Gamsberg production due to ramp up and COVID lockdown restrictions which were in place in Q1 FY21. Q1 FY22 production was higher by 10% as compared to Q4 FY21 due to 11% higher throughput.
Gamsberg's production was 46,000 tonnes in Q1 FY22, 83% higher as compared to Q1 FY21 and 13% higher as compared to Q4 FY21 due to higher throughput resulting from consistent plant availabilities and improved recoveries. Q1 FY21 production was also partially impacted by Covid-19 restrictions.
In iron ore segment, there was no production at Goa due to suspension of mining pursuant to the Supreme Court judgement dated 7th February 2018 directing mining operations of all companies in Goa to stop with effect from 16th March 2018.
At Karnataka, production volume in Q1 FY22 was 1.4 million tonnes, higher by 53% as compared to Q1 FY21 and 24% sequentially.
Pig iron production was at 2,02,000 tonnes in Q1 FY22, higher by 85% as compared to Q1 FY21 and 29% sequentially.
In oil & gas segment, average gross operated production during Q1 FY22 across the company's assets was 164,899 barrels of oil equivalent per day (boepd), up 4% compared to Q1 FY21 and at similar levels as compared to Q4 FY21.
In steel segment, total saleable production for Q1 FY22 was 289,000 tonnes, higher by 8% as compared to Q1 FY21, mainly due to COVID-19 restrictions in Q1 FY21. In comparison to Q4 FY2021, total saleable production was down by 9% mainly due to instabilities and hanging issues at blast furnace.
In power segment, during Q1 FY22, power sales were 2,722 million units higher by 48% as compared to Q1 FY21 and 19% lower as compared to Q4 FY21.
On a consolidated basis, Vedanta reported a net profit to Rs 7,629 crore in Q4 FY21 as compared to a net loss of Rs 12,083 crore in Q4 FY20. Net sales increased by 42.8% year-on-year (Y-o-Y) to Rs 27,874 crore during the quarter, primarily due to higher volume at Aluminum business, Zinc India, Iron ore business, higher power sales at TSPL and improved commodity prices.
Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminum & power across India, South Africa, Namibia, and Australia.
Shares of Vedanta gained 0.81% to Rs 273.30 on BSE. The scrip hit an intraday low of Rs 270.15 and an intraday high of Rs 273.85 today.
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