Coal India on June 26 posted fourth-quarter net profit fell 23% due to higher costs and lower revenue.
Net profit for the quarter ended March 31 fell to 46.38 billion rupees ($613.3 million) from Rs 60.25 billion a year earlier, the Indian coal mining company said. Analysts in an ETNow Poll had projected the figure at Rs 50.55 billion.
Revenue in the quarter decreased 3.6% on year to Rs 275.68 billion, while expenses rose 2.6% to Rs 220.34 billion.
Coal India said the Covid-19 pandemic had no significant impact on earnings or carrying value of its assets.
(Writing by Becky Du Editing by Harry Huo)
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