Coal India Q3 net profit falls 16% to Rs 3,262 crore

State-owned Coal India today reported a 16.2 per cent drop in its consolidated net profit at Rs 3,262.49 crore for the quarter to December, hit by higher expenses.
The company's net profit in the corresponding quarter last fiscal stood at Rs 3,894.09 crore, Coal India (CIL) said in a filing to the BSE.
However, net sales of the company during the quarter were at Rs 17,762.88 crore, registering an increase of 4.9 per cent as against Rs 16,928.13 crore during the corresponding period last year.
Total expenses of CIL increased to Rs 14,850.11 crore, compared with Rs 13,266.23 crore in the year-ago period.

The coal output during the quarter went up to 131.64 million tonnes (MT) from 118.71 MT in the year-ago period.
On standalone basis, CIL's net profit in the October-December quarter dropped to Rs 695.82 crore, from Rs 9,597.77 crore in the corresponding period of previous fiscal.
Net sales also came down to Rs 73.59 crore as against Rs 84.77 crore a year ago.
Shares of the company closed at Rs 368.75 a scrip on the BSE, down 0.78 per cent from the previous close.