Latest News | Vedanta Posts Decline in Production of Saleable Steel, Oil and Gas, Refined Metal in Q1

New Delhi, Jul 3 (PTI) Vedanta registered a decline in production of saleable steel, oil and gas, and refined metal in the first quarter of the current fiscal year.

However, aluminium production rose marginally by 1 per cent to 6,05,000 tonnes during the first quarter and the iron ore output also increased by 42 per cent to 1.8 million tonnes during the period.

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The production of saleable steel dropped 2 per cent to 3,49,000 tonnes, in case of refined metal the decline was by 5 per cent to 2,50,000 tonnes.

In oil and gas, Vedanta's average daily gross operated production dropped 17 per cent during the quarter to 93,200 barrels of oil equivalent per day (boepd).

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"Refined metal production at 250 kt, (was) down 5 per cent YoY and 7 per cent QoQ in line with plant availability and on account of maintenance activities," the company said in a filing to the BSE.

The saleable steel production was "marginally down given the maintenance activities in one of the furnaces," it said.

Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources, critical minerals, energy and technology companies spanning across India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan with operations in sectors like oil and gas, zinc, lead, silver, copper, steel, and aluminium.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)