Sesa Goa reports decline in net profit for FY 2011-12
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Indian iron ore producer Sesa Goa has announced its financial and operational results for the fourth quarter and the full year ended March 31, posting a decline in its net profit for both the fourth quarter and the full year.
In the fourth fiscal quarter, Sesa Goa's net profit decreased by 21 percent to INR 11.6 billion ($220.8 million) compared to the same period of the previous year. The company posted a net profit of INR 26.9 billion ($511.9 million) for the full year, down 36 percent year on year. Its net sales dropped 23 percent to INR 27.9 billion ($531.3 million) in Q4, while they amounted to INR 82.75 billion ($1.57 billion) for the full financial year, down 10 percent, both year on year.
In the full financial year, Sesa Goa's iron ore output declined by 26.5 percent to 13.8 million mt compared to the previous financial year.