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Coal India shares dip 2% after disappointing Q1FY17 numbers

On standalone front, Coal India's performance was majorily disappointing.

Coal India shares dip 2% after disappointing Q1FY17 numbers
It reported standalone net profit of Rs 3.68 crore, declining by 99.24% against Rs 487.10 crore a year ago same period. Photo: Pixabay
Written By: ZeeBiz WebTeam
Updated: Wed, Sep 14, 2016
12:36 pm
Mumbai, ZeeBiz WebDesk
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The shares of Coal India dropped 2% after the company reported 15% decline in its net profit for the quarter ended on June 30. 

At 1141 hours the shares of the company were trading at Rs 324.10 per piece, down 2%, or Rs 6.60 on BSE.

On Tuesday, the state-owned company saw it's consolidated net profit of Rs 3065.28 crore, declining by 14.78% from Rs 3596.93 crore in the similar period of the previous year.

While operating profit (EBITDA – earnings before interest tax depreciation and amortization) was at Rs 4254.83 crore, recording decline of 12% year-on-year (yoy). It's operating profit margin was at 23.09%, contracting by 168 basis points yoy.

On standalone front, Coal India's performance was majorily disappointing. It reported standalone net profit of Rs 3.68 crore, declining by 99.24% against Rs 487.10 crore a year ago same period.