State-run Coal India on Monday reported a 14 per cent rise in consolidated net profit at Rs 3,522.7 crore for the quarter ended September. The company’s delivered a net profit of Rs 3,084.54 crore in the year-ago period, it said in a regulatory filing.
Its total income, however, dropped down to Rs 22,012.94 crore in the July-September quarter of financial year 2019-20 from Rs 23,486.35 crore in the corresponding period of previous fiscal. Despite the fall in total income, Coal India’s net profit witnessed a rise as its tax outgo declined significantly to Rs 754.25 crore from Rs 2,031.71 crore in the year-ago quarter.
Coal India Limited is an Indian public sector coal mining and refining company headquartered in Kolkata, West Bengal, India. It is the largest coal-producing company in the world and a Maharatna public sector undertaking. The company contributes around 82% to the total coal production in India.
