In November 1975, the government-owned coal mining company Coal India Limited (CIL) was established. In spite of its low initial production of 79 Million Tonnes (MTs), CIL is now the world’s largest coal producer.
Coal India on Tuesday posted a 10.1 per cent fall in its consolidated net profit to Rs 7,941.40 crore for the quarter ended on June 30, dragged by higher expenses.
The coal major had clocked a net profit of Rs 8,834.22 crore in the April-June period of the preceding 2022-23 fiscal, the company said in a regulatory filing.
The company’s total income was at Rs 37,521.03 crore, up 4 per cent from Rs 36,086.68 crore in the year-ago quarter. Expenses surged to Rs 26,785.68 crore from Rs 23,985.31 crore, a rise of 11.67 per cent.
Coal India, under the Ministry of Coal, is a leading producer and supplier of coal in India.
