Kolkata : State-run Coal India reported 4.4 per cent dip in consolidated net profit at Rs 4,238.55 crore for the quarter ended March 31 due to higher expenses and coal being diverted to the regulated power sector . CIL officials attributed the lower fourth quarter and full-year profit to higher expenses, lower e-auction sales and more supply of the incremental production the miner achieved during the year, to the power sector.
Consolidated total expenses rose to Rs 16,072.72 crore over Rs 14,850.11 crore in the corresponding quarter of FY14. Power and fuel cost also went up to Rs 609.50 crore, over Rs 572.90 crore in the corresponding quarter of FY14.
“The lower quantity e-auction sales impact was to the tune of Rs 300 crore in the quarter and for the full year the impact was Rs 1,164 crore. “The total e-auction was 46.91 million tonnes during the year against 58 million tonnes in the previous year,” CIL sources said. Additional employees cost on account of ex-gratia and acturial valuation was
Rs 1,255 during 2014-15.
