CIL shares close 3 pc lower as Q2 profit falls

Shares of Coal India Ltd (CIL) on Thursday closed the trade 3 per cent lower on the bourses after the firm reported a 16.3 per cent decline in consolidated net profit for the September quarter.

Shares of Coal India Ltd (CIL) on Thursday closed the trade 3 per cent lower on the bourses after the firm reported a 16.3 per cent decline in consolidated net profit for the September quarter. CIL's stock ended 2.94 per cent lower at Rs 122.20 at the BSE. During the day, it was down 3.85 per cent to Rs 121.05.

On the NSE, it declined 2.97 per cent to close at Rs 122.10. The earnings were announced post market hours on Wednesday.

On the traded volume front, 15.40 lakh shares were traded at the BSE and over 3.57 crore units at the NSE during the day. CIL on Wednesday reported 16.3 per cent decline in consolidated net profit at Rs 2,948.12 crore for September quarter on the back of higher expenses.

The company posted a profit of Rs 3,522.70 crore in the July-September period of the previous fiscal, CIL said in a BSE filing. Income during the quarter marginally increased to Rs 22,237.82 crore from Rs 22,012.94 crore in the year-ago period, the filing said.

Expenses during the quarter increased to Rs 18,177.82 crore over Rs 17,734.44 crore, it said..