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Amid low e-auction realisations, Coal India Q4 net falls 38% to Rs 2,716 cr

Revenue showed almost nil growth for year to Rs 83,808 cr, while expenses rose 10% to Rs 74,890 cr

Avishek Rakshit  |  Kolkata 

Government-owned Coal India had a 38 per cent fall in net profit for the quarter ended March 31, at Rs 2,716 crore. For all of 2016-17, the fall was 35 per cent, to Rs 9,266 crore. Tepid power demand, falling realisations from e-auctions and striving to keep prices 18 to 20 per cent below international levels have been given as reasons. The fall is although the revenue from operations in the quarter increased by 8.6 per cent, to Rs 24,780 crore. In the quarter, final one of 2016-17, apart from increase in expenses on contract labour, employee benefits and corporate social ...

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First Published: Tue, May 30 2017. 00:42 IST
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