Coal India first-quarter profit falls 23 percent, misses estimates

Coal India Ltd, the world`s largest coal miner, said its first-quarter profit fell 23 percent, missing analysts` estimates.

Profit fell to 23.51 billion rupees ($366.7 million) for the three months ended June 30, from 30.65 billion rupees a year earlier, the state-run company said on Monday. http://bit.ly/2vBuz4z

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 percent 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)

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