Coal India Q4 net profit falls 52% post weak operational performance

Coal Indiaon Tuesday reported a fall of over 52 percent in the net profit for March quarter at Rs 1,295 crore. The company had posted a profit of Rs 2,919 crore for the corresponding quarter of last year.

Its revenues fell 16 percent at Rs 26,909 crore against Rs 23,243 crore year on year.

The firm reported weak operational performance as operating profit of Rs 195.5 crore against Rs 3,460.5 crore year on year.

The operating margin has also contracted to 0.7 percent against 14.9 percent in the previous year.

The company reported a sharp increase in its employee benefits expenses at Rs 16,654 crore against Rs 9,241 crore year on year. Other income and expenses reported by the firm were at Rs 2,000 crore and Rs 1,261 crore, respectively.

The state-run major also reported tax credit of Rs 142 crore against Rs 156.1 crore, while its stripping activity adjustment was reported at Rs 2,485 crore.

At 15:29 hrs, Coal India was quoting at Rs 282.40, down Rs 2.55, or 0.89 percent, on the BSE. It has touched an intraday high of Rs 287.20 and an intraday low of Rs 276.75.