Coal India Profit Dips 23% To Rs 4,625 Crore In March Quarter

Coal India had posted a net profit of Rs 6,026 crore in the same quarter of the previous fiscal year.

Coal India Profit Dips 23% To Rs 4,625 Crore In March Quarter

Coal India's profit declined 23 per cent in the fourth quarter

State-run Coal India on Friday reported a 23 per cent decline in its consolidated net profit to Rs 4,625 crore in the January-March quarter of financial year 2019-20. The miner had posted a net profit of Rs 6,026 crore in the corresponding quarter of the previous fiscal year. Profit in the full fiscal year declined 4.3 per cent to Rs 16,714.19 crore, and revenue from operations fell 3.5 per cent to Rs 96,080.34 crore, Coal India said in a filing to the exchanges after market hours. 

Revenue from operations during the quarter came in at Rs 27,568.23 crore, down 3.6 per cent at compared to the year-ago period, hit by the nationwide lockdown for more than a week in March.

Its sales during the quarter under review were down 4 per cent at Rs 25,597 crore, compared to Rs 26,704 crore registered in the year-ago period.

Earlier in the day, Coal India shares ended 0.82 per cent higher at Rs 141.95 apiece on the BSE, in line with a 0.94 per cent gain in the benchmark Sensex index. Coal India shares had risen as much as 1.56 per cent to touch Rs 143 apiece on the bourse during the session.