India: Vedanta's iron ore production rises, sales decline y-o-y in H1FY'25

Vedanta Ltd has released its operational results for the first half of financial year 2025 (H12FY25). Below are the highlights:

Iron ore production rises 6% y-o-y in H1FY'25:

Iron ore production was recorded at 2.6 million tonnes (mnt) in H1FY'25, up 6% y-o-y compared to 2.4 mnt in H1FY'24. The majority of output, 2.4 mnt, was from the Karnataka mines.

However, production remained largely stable q-o-q in the second quarter as against 1.3 mnt in the last quarter of FY25.

Most of the material mined was from the company's Karnataka mines, as the Goa mines were disrupted owing to transportation concerns.

Sales drop 22% y-o-y:

Iron ore sales volumes during H1FY'25 were recorded at 2 mnt (whole quantity was from Karnataka only), down 22% y-o-y against 2.6 mnt in H1FY'24. However, sales of iron ore increased by 10% q-o-q to 1.1 mnt in Q2FY'25 as against 1 mnt in Q1FY'25.

Pig iron production decreases 8% y-o-y:

The company's pig iron production stood at 395,000 t in H1FY'25, down by 8% y-o-y compared to 430,000 t in H1FY'24 due to maintenance activity.

Meanwhile, the company's pig iron production fell by 8% q-o-q to 189,000 t in Q2FY'25 as against 205,000 t in the last quarter of FY'25.

Finished steel production down 7% y-o-y:

Finished steel production dipped by 7% y-o-y to 652,000 t in H1FY'25 due to the scheduled shutdown for debottlenecking of the steel melting shop and maintenance of the oxygen plant in 2Q.