Coal India posts record 362.46% rise in Q4 profit; net revenue jumps 7.53%
A drastic reduction in employee benefit expenses apart from other operational efficiencies backed by higher price realisations, helped Coal India post a record increase of 362.46 per cent in its net profit at Rs 6,024.23 crore for the quarter ended March 31, 2019.
The coal monolith earned a net profit of Rs 1,302.63 crore during the corresponding quarter of the last fiscal year. The company’s net revenue also jumped 7.53 per cent to Rs 28,546.26 crore as against the earnings of Rs 26,547.58 crore during the fourth quarter (Q4) of FY18.
Employee benefit expenses, during the quarter under review, came down by 35.74 per cent at Rs 10,700.79 crore as against Rs 16,651.20 crore posted in the Q4FY18.
