CIL, Profit on decline

CIL’s profit after tax in the 4th quarter of FY 2017-18 has declined by 52 per cent to Rs 1,295 crore as against Rs 2,719 crores in the corresponding 4th quarter of FY 2016-17. The major reason for dip in net profit was on account of impact of past service cost of Rs 7,384 crores arising out of revision in gratuity ceiling limit from Rs 10 lacs to Rs 20 lacs.