New Delhi: Coal India, the world’s biggest coal miner, on 13th November posted a 16% rise in consolidated net profit at Rs 2,543.80 crore for the quarter ended September 30 on the back of higher sales.The impact of higher sales have seen on the outcome of public sector.
“The profit after tax (PAT) for the second quarter ended September 30, 2015 stood at Rs 2,543.80 crore as against Rs 2,192.38 crore for the same period last year registering a growth of around 16 per cent (YoY basis),” the state-owned firm said.
The company had registered a net profit of Rs 2,192.38 crore for the corresponding quarter a year ago, it said in a filing to the BSE.
The company’s consolidated net sales in the corresponding quarter of the last fiscal were at Rs 15,677.98 crore.
Consolidated net sales of the company were at Rs 16,957.59 crore in the quarter under review, registering a year-on-year increase of eight per cent.
Company said, “The increase in earnings is largely due to the higher production and offtake during the current period compared to the corresponding period in the previous year,”
Total expenses increased to Rs 15,067.87 crore as against Rs 14,144.73 crore a year ago.