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Sesa Goa, a Vedanta Group company, has reported that its net profit was down 20 per cent at Rs 1,162 crore (Rs 1462 crore) in the March quarter due to lower production.
The company's sales were down 23 per cent at Rs 2,794 crore (Rs 3,612 crore).
Sesa has announced a dividend of Rs 2 for this fiscal year. The company sold 5.2 million tonnes of iron ore in the March quarter compared to 6.6 mt in the same period last year. Iron ore production was lower by 11 per cent at 4.9 mt.
Total expenses were up 18 per cent at Rs 1,826 crore (Rs 1,542 crore).
The company's share price was up 0.83 per cent at Rs 183 on Tuesday.
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