Coal India Q3 Results: Profit Falls 21% On Higher Expenses, Lower Other Income
Coal India Ltd.’s quarterly profit fell, missing estimates, amid higher expenses and fall in other income.
Net profit dropped 21.4% year-on-year to Rs 3,085.4 crore in the quarter ended December, according to its exchange filing. The consensus of analysts’ estimates compiled by Bloomberg pegged the metric at Rs 4,171.5 crore. Other income declined 54% year-on-year to Rs 649 crore.
Revenue rose 2% over the preceding year to Rs 23,686 crore. That compares with the Rs 24,618-crore forecast.
Operating profit rose 4% year-on-year to Rs 5,164.8 crore, compared with the Rs 5,702.2-crore estimate. Contractual expenses rose 18.4% over a year earlier to Rs 4,351 crore, capping Ebidta growth.
Operating margin remained largely steady at 21.8% compared with 21.4% a year ago.