Coal India's net profit falls about 40 per cent in second quarter

Kolkata: Coal India Ltd (CIL) on Saturday reported close to 40 per cent fall in its consolidated net profit to Rs 368.88 crore in the quarter ended September 30, 2017 as compared to Rs. 612.44 crore in the corresponding quarter last fiscal.

Its revenue from operations for the quarter stood at Rs 18,148.31 crore, up 4.19 percent from Rs 17,418.43 crore in the year-ago period.The miner produced 113.04 million tones (mt) of coal in July-September quarter of the current fiscal, as against 104.37 mt in the year-ago period.

CIL's off-take stood at 131.58 mt in the quarter ended September30, 2017, as compared to 115.87 mt in the same period last financial year, it said in a BSE filing.

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The company envisaged production of 908.10 million tones in 2019-20 with a CAGR (Compound Annual Growth Rate) of 12.98 per cent with respect to 2014-15.

In 2017-18, the miner has targeted to produce 600 mt of coal and it produced 278.01 mt during the April to October period of the current fiscal.