The cast metal aluminium production at company's smelters increased by 3% year on year (YoY) to 565,000 tonnes. The company said that the alumina production at Lanjigarh (Odisha) refinery increased marginally YoY to 485,000 tonnes; it was down 4% quarter on quarter (QoQ) due to scheduled maintenance in April'22.

In Zinc India business, mined metal production jumped 14% YoY to 252,000 tonnes on account of higher ore production across all the mines and supported by better mill recovery. However, it was lower by 15% QoQ, mainly due to lower ore production at mines and overall metal grades. The firm stated that it has achieved highest ever refined metal production at 260,000 tonnes, up 10% YoY, due to better plant and mined metal availability.

Integrated zinc production stood at 206,000 tonnes, increased 10% YoY as compared to Q1 FY23. Refined Lead production was up 11% YoY and 9% QoQ to 54,000 tonnes on account of better plant availability and pyro plant being on Lead mode for part of the quarter. Saleable Silver production, in line with Lead metal production, grew 10% YoY and 9% QoQ to 177 tonnes.

In Zinc International segment, overall production increased 11% YoY and 24% QoQ to 68,000 tonnes with ramp-up at Gamsberg. Achieved record quarterly production at Gamsberg – up 14% YoY and 19% QoQ to 53,000 tonnes. This was supported by higher throughput, better Ore grade and the benefits of debottlenecking projects completed in Q4 FY22. Gamsberg also achieved higher Zinc recoveries of 74.5% in Q1 FY23. Black Mountain mine production was flat YoY but higher by 47% QoQ in line with higher grade and higher recovery of Zinc and Lead.

In Oil & Gas space, overall average gross operated production was 148,104 barrels of oil equivalent per day (boepd). Rajasthan block's average gross production was lower at 127,815 boepd, mainly due to natural decline. The natural decline in the MBA fields was partially offset by infill wells brought online in Mangala and ABH fields. Gross production from Development Area-1 (DA-1), Development Area-2 (DA-2) and Development Area-3 (DA-3) averaged 110,912 boepd, 16,796 boepd and 107 boepd respectively.

Gas production from Raageshwari Deep Gas (RDG) averaged 135.1 million standard cubic feet per day (mmscfd) (equivalent to 22.5 kboepd); Gas sales post captive consumption at 112.0 mmscfd (equivalent 18.7 kboepd). Ravva block's average production was lower at 10,990 boepd, mainly due to natural decline; previous year production included gains from infill drilling campaign. The cambay block's average production stood at 9,209 boepd.

In Iron Ore business, there was no production in Goa as mining remained suspended pursuant to the Supreme Court judgement dated 7 February 2018. The company said that it will continue to engage with the Government for resumption of mining operations. At Karnataka, production of saleable ore was lower by 11% QoQ and 14% YoY due to heavy rainfall which impacted Ore handling. Pig Iron production was lower by 6% YoY due to scheduled shutdown at one of the blast furnaces in this quarter.

In steel business, total saleable production stood at 268,523 tonnes, lower by 7% YoY and 18% QoQ due to debottlenecking activities in Blast Furnace-3 and gunning of Blast Furnace-2.

In Power segment, overall power sales increase by 28% QoQ and 32% YoY to 3,577 million units. At Talwandi Sabo Power (TSPL), the power purchase agreement with the Punjab State Electricity Board compensates us based on the availability of the plant. TSPL power sales was 2,590 million units with 77% plant availability factor in Q1 FY23. There were no power sales in Balco in Q1 FY23. Wind power generation for Q1 FY23 was 150 MU, up 12% YoY and 127% QoQ. Wind power is mainly dependent on wind velocity and seasonality.

Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia.

The company reported 10% drop in consolidated net profit to Rs 5,799 crore on a 41% increase in revenue from operations to Rs 39,342 crore in Q4 FY22 over Q4 FY21.