Sesa Goa has posted a net profit after tax of Rs 4069.40 million for the quarter ended June 30, 2009 where as the same was at Rs 6447.20 million for the quarter ended June 30, 2008.
Total Income is Rs 10250.60 million for the quarter ended June 30, 2009 where as the same was at Rs 13109.30 million for the quarter ended June 30, 2008.
Sesa Goa, the country’s largest private iron ore exporter, has bought Goa-based V S Dempo Mining Corporation for Rs 1750 crore.
A part of London-listed Vedanta Resources, Sesa Goa will fund the transaction through internal accruals. Sesa Goa has reserves of Rs 4,000 crore.
Dempo has 19 mining leases spread over 1800 hectares in Goa. Its total reserve is estimated to be 70 million tonne. Last year, it extracted 4 million tonne of iron ore. - ET
