India: Vedanta Iron Ore Sales Down 13% in Q1 FY20
...
Vedanta Ltd. has recently announced its results for first quarter of FY20. The total iron ore sales recorded at 1.2 MnT, down 13% as against Q1 FY19 at 1.4 MnT. The total iron ore sales of the company were from Karnataka mines only.
The sales from Goa stood nil amidst operation hault post Mar'18 due to illegal mining ban. Goan miners reported a major chunk of Indian iron ore exports. However, post mining ban the exports witnessed declining and dropped to nil in June'18. Vedanta exports from Goa stood nil since June'18.
Iron ore production down 22% in Q1FY20
The total production by the miner for quarter ending June'19 witnessed at 1.1 MnT, down 22% compared to 1.4 MnT in Q1 FY19. However, on quarterly basis production picked up against 0.9 MnT in Q4 FY19. The complete production of 1.1 MnT for the quarter is from Karnataka, down 7% as compared to 1.2 MnT in Q1FY19.
| Vedanata | Q1 FY20 | Q1 FY19 | Y-o-Y (%) | Q4 FY19 | Q-o-Q(%) | FY19 |
| Production | 1.1 | 1.4 | -22% | 0.9 | 22% | 4.4 |
| Goa | - | 0.2 | -100% | - | - | 0.2 |
| Karnataka | 1.1 | 1.2 | -7% | 0.9 | 22% | 4.1 |
| Total Sales | ||||||
| Sales | 1.2 | 1.4 | -13% | 1.4 | -14% | 3.8 |
| Goa | - | 1 | -98% | - | - | 1.3 |
| Karnataka | 1.2 | 0.4 | 200% | 1.4 | -14% | 2.6 |
Source: Company Reports
Quantity in MnT
Electro steel production up 34% in Q1FY20
Vedanta recorded rise in quarterly production of Electrosteel. The production witnessed at 0.323 MnT, up 34% and sales at 0.27 MnT, up 16% Y-o-Y.
Pig iron production up 7% in Q1 FY20
Vedanta registered pig iron production of 178,000 MT in Q1 FY20 against 167,000 MT in Q1 FY19. Pig iron sales recorded at 172,000 MT in Q1 FY20 against 164,000 MT in Q1FY19 quarter.
