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Coal India fourth-quarter profit plunges 52 percent on higher expenses

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Reuters

(Reuters) - Coal India Ltd posted a 52 percent plunge in fourth-quarter profit on Tuesday, hurt by higher expenses.

Profit was 12.95 billion rupees ($190.55 million) in the three months ended March 31, compared with 27.19 billion rupees a year earlier, the coal miner said. The government has a 79 percent sake in the company.

Coal production rose to 183.45 million tonnes from 176.37 million tonnes a year earlier.

Total expenses jumped 24 pct to 277.57 billion rupees.

($1 = 67.9600 Indian rupees)

(Reporting by Jessica Kuruthukulangara and Vishal Sridhar in Bengaluru; Editing by Subhranshu Sahu)

 

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First Published: May 29 2018 | 5:11 PM IST

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