Coal India’s (CIL) net profit dropped 16% year-on-year at Rs 2,951.60 crore for the September quarter against Rs 3,522.90 crore during the corresponding period last fiscal, though net sales on a year-on-year basis were 2.5% more at Rs 19,484.15 crore during the quarter.
The company, after its board meeting, declared an interim dividend of Rs 7.50 per share, payable from November 27 onwards. It also informed the exchanges about the incorporation of Coal Lignite Urga Vikash, a JV company formed in July this year with Neyvelli Lignite Corporation for developing 5,000 mw of solar thermal assets.
