Coal India Q4 profit plunges 52% Rs1, 295 crore on higher expenses

Bengaluru: Coal India Ltd’s profit plunged 52% in the March quarter (Q4 FY18) due to higher expenses, the state-run firm said in an exchange filing on Tuesday.

Profit was Rs1, 295 crore($190.55 million) in the three months ended 31 March, compared with Rs2,719 crore a year earlier, the coal miner said. The government has a 79% stake in Coal India.

Coal production rose to 183.45 million tonnes from 176.37 million tonnes a year earlier.

Total expenses jumped 24% to Rs27, 757crore.

On Tuesday, Coal India shares fell 0.98% to Rs282.15 apiece on BSE while Sensex lost 0.61% to end the day at 34,949.24 points. Reuters