Coal India Ltd's quarterly sales increase to Rs24,033 crore

State-owned Coal India on Monday reported 38 per cent decline in consolidated net profit at Rs 2,716 crore for the quarter ended on March 31, 2017, due to higher expenses.

Coal India Ltd (CIL) had posted a consolidated net profit of Rs 4,398 crore in the corresponding quarter of previous fiscal. The consolidated income of the company increased to Rs 26,635.9 crore in the last quarter of FY2016-17, from Rs 24,583.8 crore in the January-March quarter of 2015-16, the PSU said in a filing to the BSE.

The consolidated sales (net of other levies but including excise duty) increased to Rs 24,032.5 crore in January-March, over Rs 22,141 crore in the year-ago period. Total expenses increased to Rs 22,357.5 crore in the last quarter of 2016-17, over Rs 18,173.8 crore in the January- March quarter of 2015-16.

"During the quarter/year ended March 31, 2017 the company has declared and paid two interim dividends...amounting to Rs 12,352.76 crore," it said adding that the board decided to recommend such interim dividend already paid as final dividend and no additional dividend has been recommended for 2016-17.