May 17, 2012 / 9:54 PM / 5 years ago

Silvercorp profit falls on higher production costs

May 17 (Reuters) - Silvercorp Metals Inc reported on Thursday a lower quarterly profit as higher production costs offset increased sales volumes and better realized metal prices.

The China-focused silver miner’s net income attributable to shareholders was $9.7 million, or 6 cents a share, in the quarter ended March 31, 2012. That compared with profit of $12 million, or 7 cents a share, in the year-earlier period.

Revenue rose 4 percent to $44.3 million as the miner sold more silver and gold.

Silvercorp said it produced a record 5.6 million silver ounces in full-year fiscal 2012, compared with 5.3 million in fiscal 2011.

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