Vedanta Ltd. has recently announced its results for last quarter of FY20. The total iron ore sales for the fiscal FY20 recorded at 6.6 MnT, up 73% sharply against 3.8 MnT in FY19. The total sales from Karnataka mines witnessed a significant rise to 5.8 MnT, up as compared to 2.6 MnT in FY19. However, remaining sales were recorded at 0.9 MnT from Goa, down 33% owing to mining ban as against 1.3 MnT in FY’19.
Iron ore production stable Y-o-Y in FY20
The total output by the miner for the fiscal FY20 recorded at 4.4 MnT for the FY20, stable Y-o-Y with entire quantity of 4.4 MnT produced by Karnataka mines. The company mentioned in its press release about its continued engagement with the government for resumption of Goa mining operations.
The total production by the miner for fourth quarter FY20 witnessed at 0.8 MnT, dropped 33% against 1.2 MnT in Q3 FY20.
Vedanta’s iron ore performance: FY20 vs FY19-
| Vedanta | Q4 FY20 | Q3 FY20 | Q-o-Q(%) | Q4 FY19 | Y-o-Y (%) | FY20 | FY19 |
| Production | 0.8 | 1.2 | -33% | 0.90 | -11% | 4.4 | 4.4 |
| Goa | 0 | – | – | – | – | 0 | 0.2 |
| Karnataka | 0.8 | 1.2 | -33% | 0.90 | -12% | 4.4 | 4.1 |
| Total Sales | |||||||
| Sales | 2.3 | 1.7 | 35% | 1.40 | 62% | 6.6 | 3.8 |
| Goa | 0.6 | 0.2 | 200% | – | 100% | 0.9 | 1.3 |
| Karnataka | 1.6 | 1.5 | 8% | 1.40 | 17% | 5.8 | 2.6 |
Source: Company Reports
Quantity in MnT
Electro steel production up 3% in FY20
Vedanta recorded a rise in electro steel production for the fiscal FY20 to 1.23 MnT, up 3%. The sales for the year recorded stable on a yearly basis at 1.18 MnT.
For the quarter Q4 FY20 , production recorded at 0.320 MnT up 1% Q-o-Q against 0.317 MnT in the last quarter (Q3FY20). However, the sales for the quarter fell 4% Q-o-Q to 0.305 MnT against 0.317 MnT in the last quarter.
Pig iron production down slightly in FY20
Vedanta registered a marginal drop Y-o-Y in pig iron output at 0.681 MnT for FY20 as compared to 0.686 MnT in FY19.
Pig iron production for the fourth quarter of FY20 depicted a fall of 17% to 0.148 MnT, against 0.179 MnT in Q3 FY20 .
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