Friday, June 10 2022

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Vedanta Ltd.’s Zinc India Ebitda, pre-reported at 43.7 billion rupees, reached a high level, due to higher metal and silver volumes. Volumes rebounded from one-off disruptions in the second quarter.

Ebitda of aluminum stood at Rs 37.5 billion, which is not so good; The London Metal Exchange’s rise of $114/tonne QoQ was more than offset by production costs surging to $408/tonne, mainly due to higher energy costs.

The fourth quarter of FY22 could be a strong quarter for the Aluminum business. Longer term (two to three years), production cost projections in the range of $1,300 to $1,400 (seems achievable in our view), which is pretty solid.

Ebitda from Vedanta’s oil and gas business at 14.9 billion rupees; higher achievement of $5/barrel of QoQ oil equivalent. Results slightly better than expected.

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