Coal India's FY21 profit tumbles 24% as power, metal sector demand dwindles

Income down 8.5% to Rs 93,818 cr, revenue from operations declines 6.3% YoY to Rs 90,026 cr

National miner Coal India Ltd (CIL) saw its profit falling by 23.9 per cent in the financial year 2020-21 marred with low demand from both power and metal sector due to Covid pandemic. The company's net profit stood at Rs 12,720 crore in FY21, down from Rs 16,700 crore a year before. 

This is a steep fall for the CIL as it battles falling coal demand. During 2016-17, its profit fell by 30 per cent and recovered in 2018-19 with a more than 100 per cent jump. However, both profit and income levels of FY20 are close to 2017 levels.