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Third quarter reports of companies have started coming. The reports of most companies are showing declining profit trends. Even the profits of a Maharatna company of the Government of India are seeing a decline. This company is Coal India. The same Coal India, which produces electricity for most of the country through the coal it produces, has seen a decline of 17.49 percent in its profits in the third quarter.
According to the report, Coal India has made a profit of Rs 8481 crore 22 lakh in the third quarter. Which is much less than Rs 10,291 crore 71 lakh during the same period last year. Coal India has earned Rs 35,779 crore 78 lakh during this period. Which is 1.03 percent less than Rs 36,153 crore 97 lakh in the same period last year.
Coal production increased by two percent compared to last year
Even though there is a decline in the profits and income of Coal India. But in the third quarter of this year, coal production has increased by two percent compared to the third quarter of last year. Last year, 198.99 million tonnes of coal was produced in this quarter. Which has increased to 202.02 million tonnes this year. Coal India’s subsidiary Mahanadi Coalfield Limited has produced the maximum 60 million tonnes of coal. After this, SECL i.e. South Eastern Coalfield Limited has produced 40.06 million tonnes of coal and NCL has produced 38.39 million tonnes of coal.
Coal India’s profit in nine months Rs 25,709 crore
Coal India’s profit in the last nine months was Rs 25,709 crore 57 lakh. Whereas the income of Coal India was Rs 1 lakh 2 thousand 917 crore 27 lakh. Although Coal India is still profitable. But falling profits are definitely a matter of concern for the economic world. This is the situation when there is huge demand for Coal India’s coal. However, due to import of cheap coal from abroad, Coal India’s dominance is beginning to be challenged.
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