Indian iron ore producer Sesa Goa has announced its financial and operational results for the first quarter ended June 30 of the financial year 2013-14.
In the first fiscal quarter, Sesa Goa's net profit decreased by 57.05 percent year on year to INR 4.14 billion ($68.2 million). Its net sales dropped 78.2 percent year on year to INR 3.78 billion ($62.25 million) in the first quarter.
Sesa Goa reported no iron ore production for the first quarter, since iron ore operations in both the states of Goa and Karnataka continued to remain suspended. The miner's pig iron output stood at 110,000 mt, up from 39,000 mt in the same quarter of the previous year, while its metallurgical met coke output increased by 32.8 percent year on year to 85,000 mt.