Coal India Q2 profit zooms over eight-fold to Rs 3,085 cr

New Delhi: Coal India Ltd, the country's largest miner, Monday posted an over eight-fold rise in consolidated net profit to Rs 3,085 crore for the quarter to September 2018.

The PSU major had reported a net profit of Rs 370.4 crore in the July-September quarter of 2017-18, it said in a BSE filing.

Total income for the quarter increased to Rs 24,209.3 crore, over Rs 19,171.7 crore in the corresponding period a year ago. Consolidated expenses of the company during the September quarter rose to Rs 19,091.5 crore from Rs 18,143.7 crore a year ago.

Coal India's production for the July-September period stood at 119.6 million tonnes (MT), as against 113.04 MT in the corresponding quarter a year earlier.

CIL, which accounts for over 80 per cent of the domestic coal output, had earlier said that it is optimistic about an aspirational production target of 652 million tonnes for the fiscal year 2018-19. Shares of the company closed at Rs 264.05 apiece on the BSE, down 1.55 per cent from their previous close.