CapitalMarket.com - Sesa Goa hardens on good Q3 outcome
Hot Pursuit Tuesday, January 19, 2010 09:41 Hrs IST

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Sesa Goa hardens on good Q3 outcome

Sesa Goa rose 1.21% to Rs 414.95 at 9:43 IST after the net profit rose 31.3% to Rs 607.71 crore on a 9.1% increase in total income to Rs 1526.69 crore in Q3 December 2009 over Q3 December 2008.

The result was announced before trading hours on Tuesday, 19 January 2010.

Meanwhile, the BSE Sensex was up 6.29 points, or 0.04%, to 17647.37.

On BSE, 1.87 lakh shares were traded in the counter as against an average daily volume of 21.34 lakh shares in the past one quarter.

The stock hit a high of Rs 418.95 and a low of Rs 412.50 so far during the day. The stock had hit a 52-week high of Rs 424.40 on 15 January 2010 and a 52-week low of Rs 67.25 on 23 January 2009.

The stock had outperformed the market over the past one month till 18 January 2010, rising 11.98% as compared to the Sensex's 5.51% gain. It outperformed the market in past one quarter, gaining 14.57% as against 1.82% rise in the Sensex.

India's largest private sector iron ore miner by sales has an equity capital of Rs 82.05 crore. Face value per share is Rs 1.

The current price of Rs 414.95 discounts the company's Q2 September 2009, annualised EPS of Rs 6.78, by a PE multiple of 61.20.

On a consolidated basis, the net profit rose 75.8% to Rs 827.51 crore on a 42.3% increase in total income to Rs 2021.63 crore in Q3 December 2009 over Q3 December 2008.

Sesa Goa had acquired V S Dempo & Co and its Subsidiary Dempo Mining Corp in June 2009. Hence, the consolidated results for December 2009 are not comparable with the corresponding figures of Q3 December 2008.

Sesa Goa, an iron ore mining company of the Vedanta group, has been involved in iron ore mining, beneficiation and exports. It is also into the manufacture of pig iron and metallurgical coke.

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