National miner Coal India Ltd (CIL) saw its profit falling by 23.9 per cent in the financial year 2020-21 marred with low demand from both power and metal sector due to Covid pandemic. The company’s net profit stood at Rs 12,720 crore in FY21, down from Rs 16,700 crore a year before.
This is a steep fall for the CIL as it battles falling coal demand. During 2016-17, its profit fell by 30 per cent and recovered in 2018-19 with a more than 100 per cent jump. However, both profit and income levels of FY20 are close to 2017 levels.
The company’s income fell by 8.5 per cent during the last fiscal. During 2020-21, the total income was Rs 93,818 crore.
