Mining conglomerate – Vedanta has announced its production and sales performance for Q2 FY18 ending 30th Sept.’17.
The company has reported saleable iron ore production down 14% Y-o-Y Q2 FY’18, as it was 1.2 MnT iron ore in Q2 FY18 against 1.5 MnT in Q2 FY17. Out of 1.2 MnT iron ore produced in Q2 FY18, 0.4 MnT from Goa mines down 25% Y-o-Y and the rest 0.9 MnT was produced from Karnataka mines Q2 FY18 down by 8% Y-o-Y.
However, it has recorded a decrease in its iron ore production by 62% Q-o-Q in Q2 FY’18 against 3.2 MnT Q1 FY18 due to monsoon season in Goa.
Key performance highlights:
1. Iron ore production from Goa in Q2 FY18 has been less owing to monsoon. Iron ore sales from Goa in Q2 FY18 stood at 0.1 MnT due to low prices.
2. Sales from Karnataka have moved up both on quarterly as well as yearly premises.
3. Inventory of around 3MnT at Goa and 1.2 MnT in Karnataka which will be sold in coming quarters.
4. Vedanta remain engaged with respective state governments for increase in mining capacities.
Vedanta’s Iron Ore Production & Sales Q2 FY18:
| States | Q2 FY’18 | Q1FY’18 | Q-o-Q (%) | Q2 FY’17 | Y-o-Y (% ) |
| Saleable Iron Ore Production | |||||
| Goa |
0.4 |
2.2 |
-82% |
0.5 |
-25% |
| Karnataka |
0.9 |
1.1 |
-22% |
0.9 |
-8% |
| Total |
1.2 |
3.2 |
-62% |
1.5 |
-14% |
| Iron Ore Sales | |||||
| Goa |
0.1 |
1.9 |
-93% |
0.3 |
-59% |
| Karnataka |
0.6 |
0.4 |
43% |
0.5 |
30% |
| Total |
0.7 |
2.3 |
-67% |
0.8 |
-7% |
Fig in MnT
Source: Company Reports
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