New Delhi: State-owned CIL on Wednesday said its consolidated profit declined 32 per cent to Rs 4,262.64 crore in the September quarter on the back of lower sales and higher expenses.The country's largest coal-producing company had clocked a consolidated profit of Rs 6,274.80 crore in the July-September quarter a year ago.
Coal India Ltd (CIL) had reported a decline in consolidated sales to Rs 26,909.23 crore from Rs 27,271.30 crore in the year-ago quarter, the maharatna firm said in a regulatory filing.Its expenses increased by 7 per cent to Rs 26,421.86 crore against Rs 24,670.70 crore in the same period a year ago.Coal India accounts for over 80 per cent of domestic coal output.
The coal behemoth posted a 3.9 per cent year-on-year decline in production to 48.97 million tonnes (MT) in September.Its output was 50.94 MT in the corresponding month of FY25.The output has lowered even as the government aims to increase production to bring down the import of dry fuel.
Coal and mines minister G Kishan Reddy had earlier said that rainfall disrupted mining activity in September, and it led to a decline in production by public sector coal producer CIL.However, the minister made it clear that there was no shortage of coal in the country.According to industry experts, heavy rains and waterlogging during the monsoon create operational difficulties in coal mining, resulting in a drop in coal production.Coal India has a production target of 875 million tonnes for 2025-26, with a dispatch target of 900 million tonnes.
Disclaimer: This story is from the syndicated feed. Nothing has changed except the headline.
