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Coal India posts decline of 14.78 per cent in net profit in Q1

Depleting interest income on cash reserves, poor response to e-auctions impact bottom line

Avishek Rakshit  |  Kolkata 

Low price realisation from e-auctions, fuelled by depleting interest income from banks on its cash reserves, in a situation when the demand of the fossil fuel is at a low, resulted in state-owned miner Coal India posting a decline of 14.78 per cent year-on-year in its net profit at Rs 3,065.28 crore for the quarter ended June. This was also lower than the Street expectation of Rs 3,567 crore, as indicated by Bloomberg consensus estimate. While the company’s total income or net sales fell 6.12 per cent at Rs 17,796.05 crore for the period under review as against Rs 18,955.75 ...

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Coal India posts decline of 14.78 per cent in net profit in Q1

Depleting interest income on cash reserves, poor response to e-auctions impact bottom line

Depleting interest income on cash reserves, poor response to e-auctions impact bottom line Low price realisation from e-auctions, fuelled by depleting interest income from banks on its cash reserves, in a situation when the demand of the fossil fuel is at a low, resulted in state-owned miner Coal India posting a decline of 14.78 per cent year-on-year in its net profit at Rs 3,065.28 crore for the quarter ended June. This was also lower than the Street expectation of Rs 3,567 crore, as indicated by Bloomberg consensus estimate. While the company’s total income or net sales fell 6.12 per cent at Rs 17,796.05 crore for the period under review as against Rs 18,955.75 ... image
Business Standard
177 22

Coal India posts decline of 14.78 per cent in net profit in Q1

Depleting interest income on cash reserves, poor response to e-auctions impact bottom line

Low price realisation from e-auctions, fuelled by depleting interest income from banks on its cash reserves, in a situation when the demand of the fossil fuel is at a low, resulted in state-owned miner Coal India posting a decline of 14.78 per cent year-on-year in its net profit at Rs 3,065.28 crore for the quarter ended June. This was also lower than the Street expectation of Rs 3,567 crore, as indicated by Bloomberg consensus estimate. While the company’s total income or net sales fell 6.12 per cent at Rs 17,796.05 crore for the period under review as against Rs 18,955.75 ...

image
Business Standard
177 22