Shares of Coal India today fell nearly 3 per cent to hit its 52-week low after the company reported 38 percent decline in consolidated net profit for the quarter ended March 31. The stock declined by 2.85 per cent to Rs 260 — its 52-week low — on BSE. At NSE, shares of the company went down by 2.91 per cent to hit its one-year low of Rs 259.50.
State-owned Coal India yesterday reported 38 per cent decline in consolidated net profit at Rs 2,716 crore for the fourth quarter due to higher expenses. Coal India Ltd (CIL) had posted a consolidated net profit of Rs 4,398 crore in the corresponding quarter of previous fiscal.
The consolidated income of the company increased to Rs 26,635.9 crore in the last quarter of FY2016-17, from Rs 24,583.8 crore in the January-March quarter of 2015-16, the PSU said in a filing to the BSE.