India: Vedanta iron ore production, sales fall y-o-y in Q1FY23

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Vedanta’s iron ore production stood at 1.26 mnt in Q1FY23, down 14% y-o-y from 1.46 mnt in Q1FY22. The entire output was from the company’s Karnataka mines.
Production volumes fell due to heavy rainfall in Karnataka which impacted iron ore handling and nil production in Goa as mining remained suspended in the region.
Sales, too, fell by 24% y-o-y to 1.26 mnt in Q1FY23.

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