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State miner Coal India Ltd (CIL) on Monday posted a 23 per cent fall in consolidated net profit for the first quarter ended June at Rs 2,351.2 crore caused by higher expenses.
According to a stock exchange filing, the company had recorded a profit after tax (PAT) of Rs 3,065.2 crore in the same quarter a year ago.
CIL's consolidated income during quarter in consideration registered an increase of 4.5 per cent at Rs 21,774.4 crore.
However, the company's consolidated expenses rose to Rs 17,836.7 crore in the first quarter of the current fiscal, as against Rs 16,197.8 crore in the same period last year.
The production of the state-run miner, which accounts for over 80 per cent of the country's output, at 118.8 million tonnes (MT) in the first quarter, dropped, as compared to 125.6 MT produced in the same quarter of the previous fiscal.
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