Coal India Net Slumps to Lowest Since 2010 as Costs Rise
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State-run Coal India Ltd., the world’s biggest miner of the fuel by volume, reported the lowest quarterly profit since its listing in November 2010 as fuel and wage costs climbed.
Profit for the three months ended Sept. 30 declined 28 percent to 21.9 billion rupees ($356 million) from 30.5 billion rupees a year earlier, the company said in an exchange filing. The median of 31 analyst estimates compiled by Bloomberg was for a profit of 29.8 billion rupees. Net sales rose to 156.8 billion rupees from 154.1 billion a year earlier, the company said.