Tuesday, 30 May 2017

Coal India Q4 net profit falls 38% to Rs 2,716 cr >> Get Daily Intraday Tips and more-

State miner Coal India on Monday posted a 38 per cent fall in net profit for the fourth quarter ended March at Rs 2,716 crore caused by lackluster power demand, falling realizations from e-auctions and efforts to keep prices below international levels.

The company had posted a profit of Rs 4,398 crore in the same period of last year.

For the full fiscal 2016-17, the company's net profit fell 35 per cent to Rs 9,266 crore, from Rs 14,268 crore in the previous fiscal.

Coal India's revenue from operations in the quarter, however, increased by 8.6 per cent to Rs 24,780 crore, from Rs 22,813 crore in the same period a year ago.

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