Coal India net profit declines nearly 60% in six years despite sales jump

Salaries of executives were also revised and this led to an estimated outflow of Rs 10 billion

Despite seeing a surge in sales, owing to a recent hike in coal prices, and customers bearing the brunt of additional charges, Coal India saw its profit decline by nearly 60 per cent in the last six fiscal years (FYs).

In 2012-13, its net profit stood at Rs 173.56 billion while gross sales was Rs 882.81 billion. However, in 2017-18, despite its gross sales surging to Rs 1271.62 billion, net profit fell to Rs 70.20 billion. This is despite coal sales increasing by around seven per cent to touch 581 million tonne (mt) and the company imposing additional loading & transportation