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Vedanta expects its aluminium production to reach to 2.4 million tonnes

Vedanta expects its aluminium production to reach to 2.4 million tonnes

According to a Reuters report, Vedanta Limited expects 2.3 to 2.4 million tonnes of aluminium production in FY2024-25. By the third quarter of FY2024, Vedanta produced 1.772 million tonnes of aluminium, a 3 per cent rise year-on-year and the highest-ever output.
In Q3 alone, Vedanta’s aluminium production was 599,000 tonnes, up by 6 per cent Y-o-Y and 1 per cent Q-o-Q.
According to Reuters, Vedanta has also anticipated aluminium production cost for the financial year 2024-2025 at $1,625 to $1,725 per tonne.
According to the 3QFY2024 results, Vedanta’s revenue during the particular period was INR 34,968 crore, up by 4 per cent Q-o-Q and Y-o-Y, driven by higher sales volume and favourable output commodity prices.
The company’s EBITDA during the said period was INR 8,677 crore, up by 21 per cent Q-o-Q and 22 per cent Y-o-Y, buoyed by softening of raw material costs.
Investment income for 3QFY2024 was at INR 724 crore, up by 28 per cent Q-o-Q mainly due to one-time gain from sale of long-term investment.
Vedanta’s long-term goal is to increase its aluminium production capacity to 3 million tonnes per annum from 2.37 million tonnes.