India: Vedanta's iron ore production rises, sales fall y-o-y in Q1FY25

Vedanta Ltd has released its operational results for the first quarter of financial year 2025 (Q1FY25). These are the highlights:

Iron ore production rises by 5% y-o-y in Q1FY'25:

Iron ore production was recorded at 1.3 million tonnes (mnt) in Q1FY25, inched up by 5% y-o-y as compared to 1.2 mnt in Q1FY'24. Majority of output 1.2 mnt was from the Karnataka mines.

However, the production fell by 27% q-o-q in this quarter as against 1.7 mnt in the last quarter of FY24 amid temporary suspension of mine production during May, 2024.

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

Sales drop 13% y-o-y:

Iron ore sales volume during Q1FY'25 was recorded at 1 mnt (whole quantity was from Karnataka only), dipped by 13% y-o-y against 1.1 mnt in Q1FY'24. However, sales of iron ore decreased by 42% q-o-q against 1.7 mnt in Q4FY24.

Pig iron production decreases by 4% y-o-y:

The company's pig iron production stood at 205,000 t in Q1FY25, down by 4% y-o-y compared to 213,000 t in Q1FY24, due to the shutdown of furnace during the end of this quarter.

However, company's pig iron production rose by 4% q-o-q as against 198,000 t in the last quarter of FY'24 owing to improved process system.

Finished production rises by 10% y-o-y:

Finished production rose by 10% y-o-y to 356,000 t in Q1FY25 with increased production of TMT bars and wire rods.