Coal India net profit rises 35% in fourth quarter

State-owned Coal India (CIL) on Monday reported almost 35 per cent rise in the consolidated net profit at Rs 5,413.9 crore for the fourth quarter ended March 31 on the back of lower expenses.

The company's net profit in January-March quarter last fiscal stood at Rs 4,013 crore, the company said in a filing to BSE.

The consolidated net sales of the PSU during the quarter also went up to Rs 19,904 crore, from Rs 19,418 crore in the corresponding period of FY12, the statement added.

The total expenses of the company during the period came down to Rs 14,225 crore from Rs 16,021 crore in Q4FY'12, it said.

Employee benefit expenses of CIL during the quarter reduced to Rs 7,469 crore over Rs 9,465 crore over the same quarter in FY 2011-12.

The consolidated net profit of the PSU for the year ended March 31, 2013 also went up to Rs 17,356 crore against Rs 14,788 crore in the previous fiscal.

However, the income from operations of the company rose to Rs 68,302 crore for the year ended March 31, 2013 from Rs 62,415 crore in the year ago-period.

The company produced 452.2 million tonnes (MT) of coal in FY'13 against 435.8 MT in the FY 2011-12.

CIL's offtake also went up to 465 MT in the year ended March 31, 2013 against 433 MT in the year-ago period.