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Vedanta’s commercial power sales decline 7% in September quarter

Vedanta’s commercial power sales declined 7 per cent year-on-year (y-o-y) in the September quarter of this fiscal after all units experienced de-growth.

Vedanta’s total power sales shrank to 3253 million units (MU) compared with 3514 MU in the corresponding period last year.

The power unit at Jharsaguda recorded the steepest fall of 84 per cent as only 20 MU power was sold as against 124 MU in the comparable period of FY19.

The power unit at Vedanta-owned Bharat Aluminium Company (BALCO) saw its sales fall 6 per cent y-o-y. Another Vedanta Group company Hindustan Zinc Ltd (HZL) witnessed power sales dipping 11 per cent in the period under review. Even Talwandi Sabo Power Ltd (TSPL) logged a four per cent drop in power sales.

As a result of sagging power sales, Vedanta Ltd’s total revenue from power sales fell four per cent in Q2 even though earnings before interest, taxes, depreciation & amortization (Ebitda) was up marginally at two per cent. Lacklustre demand is believed to have dragged the company’s sales.

Source: Business Standard