Coal India Q3 results: Profit falls 14% to Rs 3,922 crore, meets Street estimates

Mumbai: Mining major Coal India on Tuesday reported a 14.1 per cent decline in profit at Rs 3,921.81 crore for the quarter ended December 31. Analysts in an ET NOW poll had projected the number at Rs 3,977 crore.

The state-run company had reported a profit of Rs 4,566.81 crore in the same quarter last year.

Coal India’s net sales dropped 7.8 per cent from a year before to Rs 21,566.41 crore.

The company’s consolidated margins came in at 21.4 per cent, compared with Street estimates of 21.1 per cent.

During the quarter under review, the company produced 147.50 million tonnes of raw coal compared with 155.97 million tonnes in the same quarter a year ago. Its offtake also declined to 141.60 million tonnes from 153.83 million tonnes a year ago.

Ahead of the announcement, Coal India shares edged 0.25 per cent higher to Rs 179.35 on BSE, while benchmark 30-share Sensex rose 0.58 per cent to 41,216.14 points.