Coal India Q1 profit falls 23% to Rs2,351 crore, misses estimates
Bengaluru: Coal India Ltd, the world’s largest coal miner, said its first-quarter profit fell 23%, missing analysts’ estimates.
Profit fell to Rs2,351 crore ($366.7 million) for the three months ended 30 June, from Rs3,065 crore a year earlier, the state-run company said on Monday.
Analysts on average had expected the company to post a quarterly profit of Rs2,662 crore, according to Reuters data.
Coal production of the Kolkata-based company, which accounts for more than 80% of the country’s output, fell to 118.84 million tonnes in the quarter from 125.67 million tonnes a year earlier.