Sesa Goa profit rose 21%

Indian mining company Sesa Goa in the I quarter of 2011 compared with the same period of 2010 increased net profit by 21% to 14.62 billion rupees (329 million dollars). This was stated in the Group. Revenues of the corporation in a given period has increased by 50%, reaching 36.07 billion rupees. Recall that Sesa Goa in the IV quarter 2010-2011 financial year compared to the same period last year to reduce the production of iron ore by 21%, to 5.49 million tons. In turn, the overall results of the past fiscal year, ore extraction is lower than the 18.8 million tons. Previously reported that the "Sesa Goa Ltd" acquired steel company Bellary Steel and Alloys. The deal amounted to 2.2 million rupees (48 million). "We want to expand, just as this government wants the state (Karnataka), and this acquisition will allow us to make a huge step in that direction," - said in Sesa Goa. The Indian company Sesa Goa's largest iron ore exporter. In 2007, one of the largest companies in the world for the production of nonferrous metals - India's Vedanta Resources - bought 51% stake in Sesa Goa. Ministry of Industry