Coal India reports 21pc decline in Q3 net profit at Rs 3,084cr

State-owned Coal India Ltd (CIL)on Thursday reported a 21 per cent decline in its consolidatednet profit at Rs 3,084 crore for the quarter ended December31, 2020 due to higher contractual expenses.

It was Rs 3,921.81 crore in the same period a yearago, the company said.

Net profit for the period after Other ComprehensiveIncome (OCI) stood at Rs 2,773 crore, it added.

Net sales were at Rs 21,708 crore, marginally higherthan Rs 21,566 crore registered in the same quarter of theprevious fiscal.

The miner earned Rs 20,670 crore from sales of rawcoal of which e-auction realisation was Rs 3,995 crore.

Total realisation from washed coal Rs 774 crore, CILsaid.

Contractual expenses were higher at Rs 4,351 croreduring the quarter under review against Rs 3,676 crore in thecorresponding quarter of FY'20.

Non-operating income was at Rs 648 crore, down from1,411 crore due to lower treasury income.

Total coal production in the October-December periodwas 156.78 million tonne, while offtake was 153.85 milliontonne.