The Business Bytes
TBB BUREAU
KOLKATA, JUNE 14, 2021
State-run Coal India Limited (CIL) on Monday reported a marginal 1.1 per cent decline in its consolidated profit at Rs 4,586.78 crore for the fourth quarter of FY2020-21 on the back of lower sales, as against Rs 4,637.95 crore posted in the year-ago period.
The consolidated sales in the January-March period declined to Rs 24,510.80 crore, from Rs 25,597.43 crore in the March quarter of 2019-20.
However, the expenses of the company during the January-March 2021 quarter dropped to Rs 21,565.15 crore from Rs 22,373.046 crore in the year-ago period.
The production of CIL during the quarter dropped to 203.42 million tonnes (MT) over 213.71 MT in the corresponding quarter of 2020.
The company’s offtake during the January-March period was at 164.89 MT, over 164.33 in the corresponding quarter of 2020.
CIL, which accounts for over 80 per cent of domestic coal output, eyes one billion tonnes of output by 2023-24.
