Sesa Goa net profit surges three-fold

Sesa Goa net profit surges three-foldThe largest iron ore exporter of the country, Sesa Goa has reported its first quarter financial results for the fiscal year 2010. The company has managed to post an impressive three fold rise in the quarterly net profit.

Sesa Goa has informed that it has posted a net profit of Rs 1,304 crore for the quarter that ended in 30th June, 2010. This net profit figure has grown up by three times in this quarter as compared to the same quarter in the last fiscal.

Last year, for the similar quarter, the net profit for the company was reported to be Rs 424 crore. This has been informed by Sesa Goa in a filing at the Bombay Stock Exchange.

The sales of the company have touched 5.4 million tonne during the April-June quarter of fiscal year 2010-11. It was 4.7 million tonne for the same quarter a year ago. There has been an increase of 15% in the sales of the firm in this quarter.

Moreover, there has been a growth in its production as well.