State-run Coal India (CIL) today posted a 11.7%
dip in standalone net profit at Rs 1223.5 crore for the quarter ended March 31,
2012.
The company had reported a net profit of Rs 1,385.7 crore in
the January-March quarter of 2010-11, the company said in a filing to the
Bombay Stock Exchange.
However, the company's standalone net profit went up to Rs
8,065 crore for the year ended March, 2012 compared to Rs 4,696 crore a year
ago.
"The increase in the net profit (for the year) can be
contributed to increase in dividend paid by the subsidiary companies and interest
income," the chairman and managing director of Coal India Narsing Rao told
PTI.
Rao, however, refused to comment on the reasons for
the dip in the net profit for the fourth quarter, stating that standalone
"was not performance based result"
CIL's tax expense during the fourth quarter was Rs 258.8
crore as compared to over Rs 122.7 crore in the same period in FY'11, the
filing said.
The standalone income from operations of the public sector
firm for the quarter also came down to Rs 154 crore against Rs 157 crore for
the same period in the year-ago period.
The CMD also expressed hopes that the company would achieve
the production target of 468 million tonnes (MT) for the current fiscal.
"Surely the target would be achieved. All steps whatever are required
would be taken to achieve 468 MT."
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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