CIL net profit rises 7.85% in Q1

Kolkata: Coal India Ltd (CIL) reported a 7.85% rise in net profit in the first quarter despite a strong 16% growth in sales as the recently concluded wage agreement had an impact of Rs 1,200 crore on the bottom line of the sate-run company.

Profit after tax rose to Rs 4,469 crore during the quarter from Rs 4,144 crore in the corresponding period last year. The company's gross sales rose to 21,207 crore during the period from Rs 18,226 crore. Net sales touched Rs 16,500 crore, up 13.8% growth over the year-ago period. The company produced 102.46 million tonnes of coal during the quarter.