DelhiDesk Coal India Limited, the world’s largest coal company, has reported a 17.7% decrease in net profit for the fourth quarter of the last financial year. The decline in profit is due to the financial burden caused by the salary revision of employees. Coal India’s gross net profit for the quarter ended March 2023 was Rs 5,527.62 crore, compared to Rs 6,715 crore a year ago. The board of directors has declared a final dividend of Rs 4 per share for the financial year, and the company’s net profit for the entire financial year increased by 62% to a record Rs 28,125 crore. Coal India has started talks with employee unions for wage revision.
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Here is the news bullets sorted by DelhiBreakings.com team.
– Coal India Limited reports poor financial results
– Net profit decreased by 17.7% in Q4 of last year
– Decrease in profit due to financial burden caused by salary revision of employees
– Gross net profit for quarter ended March 2023 was Rs 5,527.62 crore
– Sales for Q4 increased to Rs 35,161.44 crore from Rs 29,985.45 crore
– Board of directors declared final dividend of Rs 4 per share for financial year
– Provision of Rs 5,870.16 crore made in quarter for wage settlement with unions
– Coal production increased by 7% to 224.1 million tonnes in March 2023 quarter
– Dividend of Rs 4 per share given to shareholders
– Story first published on May 7, 2023 at 16:45 [IST]
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