Coal India Q2 profit slumps 77.39 per cent to Rs 600 crore

19 December 2016

State-run mining giant Coal India on Tuesday reported a consolidated net profit of Rs 600 crore for the September quarter against an ETNow poll of Rs 2,105 crore.

The recent quarter profit was lower by 77.39 per cent against Rs 2,654.34 crore profit posted in the year ago period, according to the company’s regulatory filing.

Total income from operations in the second quarter stood at Rs 16,212 crore compared with Rs 17,489.87 crore in the year ago period.

Net sales during the quarter were at Rs 15,645.05 crore against Rs 16,957.59 crore posted last year.

Employee benefit expense at the company rose to Rs 8,406.93 crore from Rs 7,334.28 YoY.

Total consolidated expenses also saw a rise to Rs 16,161.97 crore from Rs 14,733.56 crore reported in the corresponding quarter a year ago.

Source – ET