Vedanta's Mixed Bag: Steel and Oil Down, Aluminium Up

Vedanta reported a decline in the production of saleable steel, oil and gas, and refined metal in the first quarter of the fiscal year. However, aluminium production rose by 1%, and iron ore output increased by 42%. The company attributes the declines to maintenance activities and plant availability.

In the latest quarterly report, Vedanta registered a decline in the production of saleable steel, oil and gas, and refined metals, marking a challenging start to the fiscal year.

Despite these setbacks, the company noted a 1% rise in aluminium production to 605,000 tonnes and a significant 42% increase in iron ore output, totaling 1.8 million tonnes.

Vedanta, a global player in natural resources, cited maintenance activities as contributing to the drop in refined metal and saleable steel production. The firm's operations span multiple countries and involve essential industries such as oil and gas, zinc, and aluminium.

(With inputs from agencies.)