02 AUGUST 2012Steel Guru
Sterlite Industries updates on Vedanta Aluminium Limited
Edited by : AL CIRCLE
1 min read
Sterlite Industries India Limited announced the production of Vedanta Aluminium.
During Q1, Lanjigarh refinery produced 218,000 tonnes of alumina with bauxite from BALCO and third party purchases. Aluminium production at Jharsuguda was 11% higher at 124,000 tonnes as compared with corresponding prior quarter.
The cost of production at VAL in Q1 was INR 100,020 per tonne compared with INR 104,853 per tonne in the corresponding prior quarter lower by 5 % in Rupee terms due to higher production and better operational efficiencies.
EBITDA was adversely impacted by INR 100 crore on account of interest differential as per AS 16 and INR 80 crore of mark to market loss on creditors and loans due to foreign exchange fluctuation. EBITDA excluding these items was INR 263 crore.
Aluminium premiums have risen substantially year on year on account of shortage of primary metal in the physical market due to capacity cutbacks. Premium over LME on aluminium ingot has improved significantly during the quarter to more than USD 200 per tonne.
During Q1, Lanjigarh refinery produced 218,000 tonnes of alumina with bauxite from BALCO and third party purchases. Aluminium production at Jharsuguda was 11% higher at 124,000 tonnes as compared with corresponding prior quarter.
The cost of production at VAL in Q1 was INR 100,020 per tonne compared with INR 104,853 per tonne in the corresponding prior quarter lower by 5 % in Rupee terms due to higher production and better operational efficiencies.
EBITDA was adversely impacted by INR 100 crore on account of interest differential as per AS 16 and INR 80 crore of mark to market loss on creditors and loans due to foreign exchange fluctuation. EBITDA excluding these items was INR 263 crore.
Aluminium premiums have risen substantially year on year on account of shortage of primary metal in the physical market due to capacity cutbacks. Premium over LME on aluminium ingot has improved significantly during the quarter to more than USD 200 per tonne.
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