Coal India's net profit declines by 15% to Rs 3065 crore

Largest coal producer – Coal India reported weak June quarter ended 2016 (Q1FY17) performance.

The state-owned Coal India saw it's consolidated net profit of Rs 3065.28 crore, declining by 14.78% from Rs 3596.93 crore in the similar period of the previous year.

Consolidated total income from operations was at Rs 18,421.87 crore in Q1FY17, down by 5.61% versus Rs 19,518.08 crore in June 2015.

While operating profit (EBITDA – earnings before interest tax depreciation and amortization) was at Rs 4254.83 crore, recording decline of 12% year-on-year (yoy). It's operating profit margin was at 23.09%, contracting by 168 basis points yoy.

On standalone front, Coal India's performance was majorily disappointing. It reported standalone net profit of Rs 3.68%, declining by 99.24% against Rs 487.10 crore a year ago same period.

Standalone total income from operation was at Rs 23.16 crore for this quarter, witnessing decline by 38.63% yoy. 

The company adopted Indian Accounting Standard for June quarter financial results. 

Shares of Coal India closed at Rs 330.70, down by 0.44%.