Coal India March-quarter profit falls 38 percent, misses estimates | Reuters

State-run Coal India Ltd reported a lower-than-expected fourth-quarter consolidated profit, hurt by higher costs.Consolidated profit fell 38 percent to 27.16 billion rupees ($421.18 million) in the quarter ended March 31, from 43.98 billion rupees a year earlier, the company said on Monday. bit.ly/2sdenUj

Analysts on average had estimated a consolidated profit of 38.20 billion rupees, according to Thomson Reuters data.Coal production of the Kolkata-based company, which accounts for more than 80 percent of the country's output, rose to 176.37 million tonnes in the fourth quarter from 165.24 million tonnes a year earlier.

Consolidated total income climbed 8.3 percent to 266.36 billion rupees.

The world's largest coal miner recently cut its production target by about a 10th to 600 million tonnes for the 2017-18 fiscal year.($1 = 64.4850 Indian rupees) (Reporting by Samantha Kareen Nair in Bengaluru; Editing by Subhranshu Sahu)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: May 29, 2017 22:00 PM

Also Watch

IPL 2018: Royal Challengers Bangalore eye revival against Chennai Super Kings as 'Cauvery Derby' comes back to life
  • Thursday, April 26, 2018 In the Kanjarbhat community, a campaign against 'virginity tests' is slowly gaining ground
  • Tuesday, April 24, 2018 It's A Wrap: Beyond the Clouds stars Ishaan Khatter, Malavika Mohanan in conversation with Parul Sharma
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent

Also See