Coal India Q3 net profit dips 20% to INR 2,884 cr
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.
Tag Keyword: Coal India Limited , Net Profit , Sales