Kolkata Aug 14 (IANS) State miner Coal India Ltd (CIL) on Monday posted a 23 per cent fall in consolidated net profit for the first quarter ended June at Rs 2 351.2 crore caused by higher expenses.
According to a stock exchange filing the company had recorded a profit after tax (PAT) of Rs 3 065.2 crore in the same quarter a year ago.
CIL s consolidated income during quarter in consideration registered an increase of 4.5 per cent at Rs 21 774.4 crore.
However the company s consolidated expenses rose to Rs 17 836.7 crore in the first quarter of the current fiscal as against Rs 16 197.8 crore in the same period last year.
The production of the state-run miner which accounts for over 80 per cent of the country s output at 118.8 million tonnes (MT) in the first quarter dropped as compared to 125.6 MT produced in the same quarter of the previous fiscal.
Coal off-take for the quarter in question increased a little at 137.4 MT over 133.2 MT in the same quarter of previous fiscal.
Coal India stock closed on Monday at Rs 238.65 a share up Rs 2.80 or by 1.19 per cent over its previous close on the BSE.
--IANS
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