Sesa Goa announces Q2 results

Sesa Goa Ltd has announced the following Unaudited results for the quarter ended September 30, 2009:

The Company has posted a net profit of Rs 1391.10 million for the quarter ended September 30, 2009 where as the same was at Rs 3060.80 million for the quarter ended September 30, 2008. Total Income is Rs 5373.70 million for the quarter ended September 30, 2009 where as the same was at Rs 8767.60 million for the quarter ended September 30, 2008.

The Consolidated Results are as follows

The Group has posted a net profit of Rs 1664.60 million for the quarter ended September 30, 2009 where as the same was at Rs 3366.20 million for the quarter ended September 30, 2008. Total Income is Rs 6280.00 million for the quarter ended September 30, 2009 where as the same was at Rs 9211.20 million for the quarter ended September 30, 2008.

The Company has vide a share purchase agreement dated June 11, 2009, acquired V.S. Dempo & Co. Pvt. Ltd. and its Subsidiary Dempo Mining Corporation Pvt. Ltd., which are engaged in mining operations at Goa. The unaudited consolidated results for the quarter and half year ended September 30, 2009 are inclusive of financial results for the above mentioned Companies for the period June 12, 2009 to September 30, 2009. In view of the said acquisition in the current period, the consolidated financial results for the quarter and half year ended September 30, 2009 are not comparable with the corresponding figures of the previous period.