Coal India Q3 consolidated profit dips 11 pc to Rs 3,894 crore

Coal India, the world's largest miner of the fuel, today reported consolidated net profit declined 11.4 per cent to Rs 3,894.09 crore in the quarter ended December on lower sales.
The Kolkata-headquartered PSU had clocked a profit of Rs 4,395.11 crore in the corresponding quarter of the previous financial year.
Net sales during the October-December quarter declined 2.3 per cent to Rs 16,928.13 crore from Rs 17,325.04 crore in the year-ago period, Coal India said in a BSE filing.
Total expenses were Rs 13,266.23 crore compared with Rs 13,457.16 crore a year earlier.
While the company's coal production increased to 118.71 million tonnes in the quarter from 117.37 million tonnes, the volume of sales fell to 117.16 million tonnes from 120.45 million tonnes a year ago.

Coal India accounts for over 80 per cent of the country's total output of the fuel.
Coal India shares were little changed at Rs 269.90 at the close on the BSE, before the earnings were announced.