Mumbai, April 25 (PTI): Vedanta group firm Sesa Goa today reported a decline of 20.50 per cent in its consolidated net profit at Rs 1,162.11 crore for the quarter ended March 31, 2012 on lower volumes, higher export duty and higher interest cost.

Net profit stood at Rs 1,461.76 crore during the corresponding quarter of 2010-11. Net sales were down 22.59 per cent at Rs 2,791.37 crore against Rs 3,605.92 crore in the same period last year.

The Goa-based iron ore miner said it had received approvals of the BSE, the NSE and the Competition Commission of India for the proposed merger of Sterlite Industries and other Vedanta group companies into it.

Sterlite woes

Vedanta group firm Sterlite Industries today posted a decline of 33.67 per cent in consolidated net profit at Rs 1,276.89 crore for the March quarter against Rs 1,925 crore in the year-ago period largely because of a one-time payment of Rs 431.87 crore to US-based Asarco, and lower metal prices.