Sesa Goa expects 30% volume growth by end FY'09
Encouraged by a surge in demand for Indian iron ore from Chinese steel mills Sesa Goa expects a 30% volume growth by the end of this fiscal.
Mr P K Mukherjee MD of Sesa Goa told media that "We are looking for a 25% to 30% growth in volumes on an year on year basis. We look to meet this target by this fiscal-end and maximize interests of our stakeholders."
The company's confidence is based on stability in iron ore prices, which it said, now have even started moving up.
Mr Mukherjee said that "Iron ore prices have bottomed out. In last two months, the prices have actually moved upwards by up to USD 15 a tonne."
The Vedanta Group firm expressed optimism even as it posted a 22.53% decline in its net profit on stand- alone basis for the third quarter of fiscal 2009 after being hit by a sharp decline in iron ore prices which crashed by about 60% from its peak last year.
(Sourced from ET)
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