Coal India net soars 61% to ₹3,786 cr.

Coal India Ltd. (CIL) has posted a 61% jump in consolidated net profit at ₹3,786.44 crore for the June quarter of FY 2018-19.

The state-owned company had reported a net profit of ₹2,350.78 crore in the same quarter of 2017-18, it said in a regulatory filing.

Net income rose 17% to ₹25,470.86 crore from ₹21,774.42 crore in the year earlier period.

Expenses remained higher at ₹19,383.99 crore as against ₹17,837.17 crore in April-June 2017.

During the reported quarter, the government divested 0.225% stake by way of placement of shares in ‘Bharat 22-ETF’ After the divestment, the Government of India holds 78.32% equity in CIL, it said.

Coal production stood at 136.85 million tonne (MT) during the quarter, while offtake was 153.47 million tonne.