State miner Coal India (CIL) Wednesday posted a marginal drop of 0.84 percent in consolidated net profit at Rs.3,052.36 crore for the second quarter ended September owing to higher expenses.
CIL had posted a profit of Rs.3,078.08 crore in the second quarter of the previous fiscal.
The company's net sales rose 5.75 percent to Rs.15,411.49 crore from Rs.14,572.54 crore, chairman S. Narsing Rao said, declaring the quarterly results.
Total expenses for the quarter rose 8.38 percent to Rs.13,112.45 crore, of which employee benefits accounted for Rs.6,974 crore.
Production during the quarter was up 9.57 percent at 97.6 million tonnes, while offtake at 109.12 million tonnes was higher compared to 101.74 MT in same quarter of the previous financial year.
Coal India stock closed Wednesday prior to the results, at Rs.284.95 per share, 0.05 percent lower than its previous close on the Bombay Stock Exchange.
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