Coal India Ltd, the world’s largest coal miner, said its first-quarter profit fell 23%, missing analysts’ estimates. Profit fell to Rs 23.51 billion ($366.7 million) for the three months ended June 30, from Rs 30.65 billion a year earlier, the state-run company said on Monday. Analysts on average had expected the company to post a quarterly profit of 26.62 billion rupees, according to Thomson Reuters data. Coal production of the Kolkata-based company, which accounts for more than 80% of India’s output, fell to 118.84 million tonnes in the quarter from 125.67 million tonnes a year earlier. ($1 = 64.1050 rupees)

Source: Hindustan Times August 14, 2017 13:30 UTC