A reduction in employee benefit costs and in other expenses and a higher realisation helped Coal India Ltd (CIL) post a 362 per cent rise in net profit at ₹6,024.23 crore for the quarter ended March 31, 2019. Net profit in the year-ago-period stood at ₹1,302.63 crore.
The company’s net revenue rose by 8 per cent to ₹28,546 crore against ₹26,547 crore logged in the same quarter of the previous fiscal. Employee benefit expenses during the quarter under review came down by over 35 per cent to ₹10,700 crore ( ₹16,651 crore). Contractual expenses also came down to ₹3,839 crore.
For the full year, the PSU saw a 148 per cent rise in its net profit at ₹17,462 crore, while revenue from operations stood at ₹99,547 crore.
