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Coal India's Q4, FY'17 profit slides YOY

Coal India Ltd. on May 29 reported a consolidated net profit of 27.16 billion Indian rupees, or 4.38 rupees per share, in the fourth quarter of its fiscal 2017, compared to 43.98 billion rupees, or 6.96 rupees per share, a year ago.

Revenue from operations, however, improved year over year to 247.80 billion rupees from 228.13 billion rupees recorded a year earlier.

For the year that ended March 31, the state-run miner booked net income of 92.66 billion rupees, or 14.78 per share, compared to 142.67 billion rupees, or 22.59 rupees per share, a year earlier.

Revenue came in at 838.08 billion rupees, compared to 835.61 billion rupees a year ago.

Coal India's fiscal 2017 production grew 2.9% on a yearly basis to 554.13 million tonnes of coal while offtake rose 1.6% to 543.16 million tonnes.

As of May 26, US$1 was equivalent to 64.50 Indian rupees.