Coal India Q2 profit falls 16% to Rs 2,948 crore due to higher expenses

Coal India Ltd (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 July-September period of the previous fiscal, CIL said in a filing to BSE.

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.

In a separate filing, the company said its board has approved payment of interim dividend of 7.50 per share of the face value of Rs 10 for 2020-21.