You should consume a minimum of 1200 calories per day. Many people need more than that, depending on their activity levels, but that is a good round number to start. If you go lower, the body compensates by burning fewer calories doing normal things, so you don't come out ahead. Also, consuming too few calories now will make maintaining much more difficult. Maintenance is harder than losing
It's also difficult to get all of the nutrients your body needs if you don't consume enough food. The best thing to do is eat more, and don't worry if you lose at a slower rate than you'd hoped, you'll be healthier in the end. You don't have far to go, if you do lose more. At 5'3", the ideal weight can be from 111 to 147, depending on your frame.
good luck