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Sesa Goa reports 34.38% drop in Q1 net profit

22 Jul 2011 Evaluate

Sesa Goa has reported results for first quarter ended June 30, 2011

The company’s net profit for the quarter has declined by 34.38% at Rs 672.98 crore as compared to Rs 1025.51 crore for the same quarter last year. Its total Income has decreased by 11.43% to Rs 1831.68 crore for the quarter under review from Rs 2067.99 crore for the corresponding quarter of the previous year.

On consolidated basis, the Group’s net profit has registered a fall of 35.43% at Rs 840.59 crore for the corresponding quarter previous year as compared to Rs 1301.79 crore for the quarter ended June 30, 2010. Its total revenue has decreased by 12.16% to Rs 2260.95 crore for the quarter from Rs 2574.02 crore for the similar quarter of the previous year.

Consequent to merger of erstwhile subsidiary Sesa Industries, the figures of the Pig Iron segment were incorporated in the company's results on standalone bass from the Quarter ended March 31, 2011. The figures for the quarter ended June 30, 2011 are therefore not comparable with those or the corresponding quarter of the previous period on standalone base.

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