Coal India Q1 consolidated profit dips 23 per cent to Rs 2,351 cr

New Delhi: State-owned Coal India Ltd (CIL) on Monday posted 23 per cent decline in consolidated profit at Rs 2,351.2 crore for the quarter ended June 30, 2017, due to higher expenses.

The company had posted a consolidated profit of Rs 3,065.2 crore in the year-ago period, Coal India Ltd (CIL) said in a filing to BSE. However, CIL's consolidated income during April-June quarter was at Rs 21,774.4 crore, registering an increase of 4.5 per cent.

The firm's consolidated expenses increased to Rs 17,836.7 crore in April-June this year, over Rs 16,197.8 crore in the year-ago period.

The production of the country's largest coal miner was at 118.8 million tonnes (MT) in the first quarter of FY2017-18 against 125.6 MT in the same quarter of previous fiscal.

The company's off take for the April-June quarter was at 137.4 MT, over 133.2MT in the same quarter of previous fiscal.

On standalone basis, Coal India posted a profit of Rs 32.18 crore for April-June 2017 against that of Rs 3.6 crore in the year-ago period.

However, standalone total income declined to Rs 187.8 crore over Rs 189 crore in the corresponding quarter of previous fiscal.