Q1FY11 results: lower tax provision lifts PAT Sesa Goa’s consolidated revenue for Q1FY11 grew by 139.7% Y-o-Y to Rs 2394 crore. EBIDTA increased by 222.1% Y-o-Y and 28% Q-o-Q to Rs 1459.6 crore. Net profit at Rs 1301.8 crore was up by 422.3% Y-o-Y. On sequential basis, revenue and operating profit declined by 0.4% and 2.9% respectively while net profit increased by 7.3%. Revenue growth was driven by iron ore performance. During Q1FY11, iron ore sales volumes grew 14.9% Y-o-Y to 5.44mn tonnes while net realizations were up 130.7% Y-o-Y to Rs 4,169/tonne. Volume growth was primarily due to consolidation of volumes from Dempo. Excluding Dempo, sales volumes actually declined 11% YoY to 4.2m tons due to logistic bottlenecks.