Coal India reports 21pc decline in Q3 net profit at Rs 3,084cr

Net sales were at Rs 21,708 crore, marginally higher than Rs 21,566 crore registered in the same quarter of the previous fiscal.

Kolkata: State-owned Coal India Ltd (CIL) on Thursday reported a 21 per cent decline in its consolidated net profit at Rs 3,084 crore for the quarter ended December 31, 2020 due to higher contractual expenses. It was Rs 3,921.81 crore in the same period a year ago, the company said.

Net profit for the period after Other Comprehensive Income (OCI) stood at Rs 2,773 crore, it added. Net sales were at Rs 21,708 crore, marginally higher than Rs 21,566 crore registered in the same quarter of the previous fiscal.

The miner earned Rs 20,670 crore from sales of raw coal of which e-auction realisation was Rs 3,995 crore. Total realisation from washed coal Rs 774 crore, CIL said. Contractual expenses were higher at Rs 4,351 crore during the quarter under review against Rs 3,676 crore in the corresponding quarter of FY’20.

Non-operating income was at Rs 648 crore, down from 1,411 crore due to lower treasury income. Total coal production in the October-December period was 156.78 million tonne, while offtake was 153.85 million tonne.