Coal India Q3 profit falls 22% to Rs2,884 crore

13 February 2017

The world’s largest coal miner Coal India Ltd (CIL) on Saturday reported a 22% decline in consolidated net profit at Rs2,884.4 crore for the third quarter ended December.

Net profit came in at Rs3,718 crore in the same quarter of the previous fiscal, Coal India said in a regulatory filing. However, the company’s total income rose to Rs21,531.2 crore in the quarter from Rs20,928.4 crore in the year-ago period. Net sales during the quarter rose to Rs19,704 crore compared to Rs18,971.5 crore in the corresponding quarter of the previous fiscal.

At the same time, total expenses also increased to Rs17,260 crore as compared Rs15,407.5 crore.

On a standalone basis, the company has posted a loss of Rs39 crore as compared to a profit of Rs672.6 crore in the year-ago period. Total income declined to Rs257.1 crore in the quarter from Rs880 crore.

Source – Live Mint