Coal India's consolidated net profit down 16pc at Rs 2,951cr in Q2



State-run Coal India Ltd on Wednesday reported a 16 per cent fall in its consolidated net profit to Rs 2,951 crore in the second quarter of the current fiscal.

The miner had posted a net profit of Rs 3,523 crore in the year-ago period.

The company's revenue from sales was at Rs 19,484 crore during the quarter under review as against Rs 18,986 crore registered in the corresponding period last year, the miner said in a regulatory filing in the stock exchanges.

Contractual expenses jumped sharply by about Rs 1,000 crore to Rs 3,311 crore in three months ended on September 30, 2020.

The company also said its board of directors approved an interim dividend at a rate of Rs 7.50 per share for 2020-21 fiscal.

The Maharatna public sector undertaking (PSU) produced 114.98 million tonne of coal in the September quarter, up from 104 million tonne in the year-ago period.

Its offtake was at 133.9 million tonne in the July- September period as against 122.44 million tonne in the same quarter last year. (PTI)