The higher-than-expected fall in Coal India’s net profit for the March 2020 quarter (Q4) impacted street sentiment with the stock down 5 per cent on Monday. The lockdown for nine days during Q4 meant that coal sales volumes were flat at 164 million tonnes (MT).
Net profit fell by almost 23 per cent year-on-year to Rs 4,626 crore, and was much lower than consensus estimate of Rs 5,024 crore. Though the decline was also due to higher tax outgo, even profit before tax was down by 16.3 per cent. Amidst weak coal demand, the fall in high-margin e-auction prices impacted blended ...
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