Sesa Goa’s net profits fall by 15% in FY2012/13

Publish time: 2nd May, 2013      Source: ChinaCCM
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It's reported that Indian miner Sesa Goa launched its financial result for the fourth quarter and the fiscal year 2012/13 ended on March 31st.

Sesa Goa posted a net profit of INR2.98 billion for the fourth quarter of this year, slumping by 74% and its net sales totaled INR2.891 billion, decreasing by 90%, both compared to those in the same period of a year ago.

In the fiscal year 2012/13, Sesa Goa's net profits totaled INR22.8 billion, decreasing by 15% year on year while its net sales slumped by 69% to INR25.54 billion.

Meanwhile, Sesa Goa said that it didn't have iron ore production in the fourth quarter due to suspension of mining in Goa and Karnataka. Its iron ore production amounted to 3.7 million tons in the full fiscal year 2012/13, slumping by 73% year on year.