Anil Agarwal-owned mining conglomerate Vedanta Ltd., along with its four demerged entities shared their business updates for the June quarter, which were mixed in nature compared to last year.
While the Aluminium business delivered standout growth along with the power business, the oil & gas output decline partially offsets that outperformance.
Here's a segment-wise breakdown of the numbers:
Vedanta Aluminium
Touted to be the biggest value creator among all demerged entities, Vedanta Aluminium posted its highest-ever quarterly aluminium production.
Aluminium production increased by 5% from last year and 3% sequentially, while Alumina production was up by 41% from last year, although it was down by 6% compared to the March period.
Production of Value Added Products (VAP) increased by 14% year-on-year and 4% from the previous quarter, showcasing the shift towards high-margin, downstream aluminium products.
The stock is trading 0.5% higher on Monday at ₹464.
Vedanta Power
The company's total power sales went up by 38% from last year, led by the Meenakshi Energy asset, reflective of higher demand and better plant utilization.
Sales from Meenakshi Energy nearly tripled from last year, and 16% sequentially.
The stock is down 1.7% in Monday's trade at ₹44.95.
Vedanta Oil & Gas
Unlike the aluminium and power segments, Vedanta's oil & gas business faced headwinds this quarter.
All operating units reported a decline in production compared to last year.
Gross oil and gas production fell 17% from last year and 4% sequentially.
The stock is down 6% in early trading on Monday at ₹40.25.
Vedanta Iron & Steel
Regional performance for the Iron & Steel business was mixed, with Odisha and Goa operations reporting an increased in production, helping driving overall segment growth.
However, Karnataka saw a decline in production, both sequentially as well as from last year.
Total Iron & Steel production increased by 4% year-on-year but fell 3% from the previous quarter.
Shares are down 3.6% on Monday after ending Friday's trade in a 5% lower circuit.
Vedanta
The remaining businesses of the conglomerate, Zinc India and Ports saw mixed results.
Zinc India saw a minor increase in production, though output was down sequentially.
Operations of the ports business improved both sequentially and year-on-year.
Shares of Vedanta are trading little changed on Monday at ₹280.1.