India’s Godavari Ispat and Power Limited (GIPL) achieved iron ore pellet production of 523,950 mt during the first quarter (April-June) of the fiscal year 2023-24, a decline of 21 percent over the corresponding quarter of the previous fiscal, a company statement said on Monday, July 31.
The company attributed the lower pellet production to the maintenance shutdown of the plant during the quarter.
GIPL reported total pellet sales during the first quarter at 297,656 mt, down 48 percent year on year, which, according to the company, was owing to higher captive consumption of pellets for production of sponge iron.
The company’s iron ore production from captive mines was recorded at 572,523 mt, largely stable compared to the corresponding quarter of the previous fiscal year, the statement said.