Coal India profit down 23%
Subdued demand from the power sector along with lower realisation per tonne from sales impacted the bottomline of Coal India for the fourth quarter ended March 31, 2020.
The miner has reported a 23 per cent decline in its consolidated net profit at Rs 4,625.16 crore against Rs 6,026.47 crore in the corresponding quarter of the previous year.
Consolidated sales during the January-March quarter dropped to Rs 25,597.43 crore from Rs 26,704.27 crore in the same period of the previous year.
The miner had offered 139.17 million tonnes (mt) of coal during the quarter through the fuel supply agreement (FSA) route at an average realisation of Rs 1,445.75 per tonne. The average realisation on sales of 21.02mt through the e-auction route was Rs 2,105.74 per tonne.
