Coal India records 20% drop in profit

“CIL has recorded a PBT of Rs 3,600 crore (provisional) in the first six months of 2009-10. Last year the company posted PBT of Rs 4,484 crore during the same period,” CIL chairman Partha S Bhattacharyya said at a press conference.

CIL, Bhattacharyya said, recorded a drop in profitability as the wage and salary revision was not neutralised in the absence of coal price rise. Bhattacharyya, however declined to comment on the timeframe of rise in coal price, saying that CIL continues to be in profit while there is no rise in coal price.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry