Vedanta Ltd. has recently announced its results for third quarter of FY20. The total iron ore sales was recorded at 1.7 MnT, up by 21% compared to 1.4 MnT in Q2 FY20.
On yearly basis too, sales picked significantly as against Q3 FY19 at 0.70 MnT.
The total iron ore sales of the company from Karnataka mines for the third quarter FY20 recorded highest ever quarterly sales at 1.5 MnT, up 7% Q-o-Q compared to 1.4 MnT in Q2 FY20.
As per a recent update received, the Honourable Supreme Court of India, on Thursday (30th Jan’20) allowed mining firms to transport the validly mined ore from the Goan mines if they have paid the royalty to the government and mined before 15 Mar’18. The miners are permitted to transport the royalty paid mineral from the jetties, stockyard or pitheads only if they bear the valid transit permit issues. The material is to be transported within six months starting from 30th Jan’20.
Iron ore production down 8% Q-o-Q in Q3FY20
The total production by the miner for third quarter FY20 witnessed at 1.2 MnT, dropped 8% against 1.3 MnT in Q2 FY20.
However, the production on yearly basis increased sharply by 71% compared to 0.70 MnT in Q3 FY19. The complete production of 1.2 MnT for the quarter is from Karnataka.
| Vedanta | Q3 FY20 | Q2 FY20 | Q-o-Q(%) | Q3 FY19 | Y-o-Y (%) | 9M FY20 |
| Iron Ore Production | 1.2 | 1.3 | -8% | 0.70 | 71% | 3.6 |
| Goa | – | – | – | – | – | 0 |
| Karnataka | 1.2 | 1.3 | -8% | 0.70 | 71% | 3.6 |
| Iron Ore Sales | 1.7 | 1.4 | 21% | 0.70 | 143% | 4.3 |
| Goa | 0.2 | – | 100% | 0.10 | 100% | 0.2 |
| Karnataka | 1.5 | 1.4 | 7% | 0.60 | 150% | 4.1 |
Source: Company Reports
Quantity in MnT
Electro steel production up 18% in Q3FY20
Vedanta recorded rise in electro steel production for the quarter at 0.317 MnT up 18% Q-o-Q against 0.270 MnT in last quarter (Q2FY20). Also, the sales for the quarter picked up by 12% Q-o-Q to 0.317 MnT.
The miner recorded rise in production and sales of electro steel in the first nine months of FY20. The production witnessed at 0.911 MnT, up 7% and sales at 0.874 MnT, up 10% Y-o-Y.
Pig iron production up 2% Q-o-Q in Q3FY20
Vedanta registered 2% rise Q-o-Q in pig iron output for third quarter FY20 at 0.179 MnT as compared to 0.176 MnT in Q2 FY20.
Pig iron production for the first nine months of FY20 depicted 6% increase to 0.553 MnT.
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