Stock market tips, Coal India’s profit drops 20% in December-qtr at Rs 2,884 Cr

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India’s one of the Maharatna company Coal India Ltd (CIL) has reported a decline of 20.3 per cent in its consolidated net profit after taxes (PAT) at Rs 2,884.47 crore for the October-December quarter of FY17. “The consolidated net profit of the company stood at Rs 3,617.18 crore during the same period a year ago,” Coal India Ltd said in a filing to the Bombay Stock Exchange. 

However, the consolidated total income of the company increased marginally by 2.9 per cent to Rs 21,531.28 crore during Q3 2016-17, as compared to Rs 20,928.4 crore during the same period last year. Coal India’s net sales grew by 3.8 per cent to Rs 19,704.45 crore during the quarter, as against Rs 18,971.48 crore during the same period a year ago. On a standalone basis, it has posted a net loss of Rs 39.03 crore for the quarter ended December 31, 2016, as compared to net profit of Rs 671.53 crore for the quarter ended December 31, 2015.

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