{"id":400838,"date":"2021-02-17T12:13:39","date_gmt":"2021-02-17T06:43:39","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=400838"},"modified":"2021-02-17T12:57:22","modified_gmt":"2021-02-17T07:27:22","slug":"cil-lowers-expenses-for-having-to-fork-out-less-towards-employees-benefit","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/cil-lowers-expenses-for-having-to-fork-out-less-towards-employees-benefit\/","title":{"rendered":"CIL lowers expenses for having to fork out less towards employees benefit"},"content":{"rendered":"<p>The PSU miner Coal India (CIL) has been able to bring down its overall expenses by 3.3% during the nine months to Rs 54,241 crore this fiscal from that of Rs 56,079 crore during the corresponding period last fiscal. The reduction mainly happening for the squeezing of employees\u2019 benefits didn\u2019t reflect any operational efficiency, said an analyst.<\/p>\n<p>The PSU miner claimed that the reduction in expenditure despite the increase in production during the nine months is a silver lining on the 21.4% year-on-year (y-o-y) fall in its consolidated net profit at Rs 3,085.4 crore during the third quarter this fiscal. But its 54% y-o-y fall in income from other sources during the quarter has dented its bottom line.<\/p>\n<p>The reduction in employees benefits mainly includes salaries, performance-related pay of executives, performance-linked reward of non-executives, and coal mines provident fund contributions saved the company Rs 735 crore during the nine months. It saved another Rs 126 crore bringing down miscellaneous expenses during the same period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The PSU miner Coal India (CIL) has been able to bring down its overall expenses by 3.3% during the nine months to Rs 54,241 crore this fiscal from that of Rs 56,079 crore during the corresponding period last fiscal. The reduction mainly happening for the squeezing of employees\u2019 benefits didn\u2019t reflect any operational efficiency, said an analyst. The PSU miner claimed that the reduction in expenditure despite the increase in production during the nine months is a silver lining on the 21.4% year-on-year (y-o-y) fall in its consolidated net profit at Rs 3,085.4 crore during the third quarter this fiscal. [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[198,130,138],"tags":[],"class_list":["post-400838","post","type-post","status-publish","format-standard","hentry","category-coal-the-financial-express","category-newspapers","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/400838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=400838"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/400838\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=400838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=400838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=400838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}