Coal India second quarter net profit rises 14% to ₹3,522 crore

State-run Coal India Ltd.’s quarterly profit grew by 14.2 per cent, higher than expected due to lower tax expenses.

Net profit rose 14.2 percent year-on-year to Rs 3,522.7 crore, the world’s largest coal miner said in a report.

Advertisement

The company’s net profit stood at ₹3,084.54 crore in the year-ago period, it said in a regulatory filing.

Its total income, however, declined to ₹22,012.94 crore in the July-September quarter of financial year 2019-20 from ₹23,486.35 crore in the corresponding period of previous fiscal.

Despite the fall in total income, Coal India’s net profit increased as its tax outgo declined significantly to ₹754.25 crore from ₹2,031.71 crore in the year-ago quarter.

(With input from agencies)