Mining giant Vedanta’s operational performance was robust in Q4 with Zinc India’s production up 6pc, alumina up 2pc iron ore up 15pc. Higher volumes resulted in the company’s consolidated net profit rising to Rs76.29bn for the March quarter compared to a loss of Rs120.83bn during the same period, last year.
Profits in the latest quarter were contributed by various factors like the rise in zinc and aluminium production volumes, lower production cost and a steep rise in commodity prices.
In FY21, aluminium production was recorded at 1.96 mn mt and alumina production stood at 1.84mn mt, up 2pc from the prior year.
Zinc India production was at 15.5mn mt which was a record ore production despite pandemic disruptions, up 6pc from the prior year. Zinc International production at Gamsberg recorded 145,000mt, up 34pc from the prior fiscal while the cost of production fell 11pc to $1,288/mt.
Iron ore production in the fiscal year settled at 5mn mt, up 15pc from the prior year. Steel production dropped by 4pc due to the COVID-19 pandemic to 1.19mn mt in FY21. Iron ore sales reached 2.1mn mt in Goa.
In Q4, net sales jumped 43pc to Rs278.74mn from the prior year. For FY21, net sales is up 4pc to Rs868.63bn compared to the prior fiscal. The company’s EBITDA rose by 88pc to Rs 910.7bn from the prior year. For the full year, EBIDTA has jumped 30pc to 273.41bn from the previous fiscal. Net profit reported in Q4 stood Rs76.29bn compared to a loss of Rs120.83bn during the same period, last year. For FY21, net profit was Rs150.33bn against a net loss of Rs47.43bn in FY20.