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You are here: Home » National News » Supply Chain» Coal India Q3 net profit dips 20% to INR 2,884 cr

Coal India Q3 net profit dips 20% to INR 2,884 cr

13 February 2017 | Kolkata
 

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Coal India Limited, on Saturday, reported 20% drop in net profit to INR 2,884 crore during the October-December 2016 quarter.

This is due to INR 772 crore (10%) rise in “employee benefit expenses”, which is a provisioning done in anticipation of the upcoming wage settlement. Overall, the company provided for INR 1,400 crore on this head during the nine month period.

Coal off-take or sales grew by a mere 3.6% during the quarter. For the year so far, off-take shows a marginal 0.77% increase over the corresponding period in 2015.

   
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