Coal India unlikely to meet FY20 profit target despite a cut
KOLKATA: Coal IndiaNSE -0.22 % aims at a net profit of Rs 14,664 crore for this fiscal – lower than Rs 17,462 crore it had secured a year ago – and a marginal rise in its gross revenue to Rs 1.5 lakh crore from Rs 1.4 lakh crore.
Analysts, however, are sceptical about the company meeting its target despite a lower profit outlook.
The state-run miner is working to boost its net revenue from operations to Rs 1 lakh crore from Rs 92,896 crore in 2018-19.
“Financial targets are kept modest which are generally surpassed by the company. Additionally, the ministry takes account of the prices of coal and the rise in input costs as well. Keeping all these factors in view, the target for profit after tax has been kept at a level lower than achieved last year,” a senior Coal India executive said.
