By Kosaku Narioka
Coal India Ltd.'s 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 INR60.25 billion a year earlier, the Indian coal mining company said late Friday. That slightly missed the estimate of INR47.41 billion net profit in an S&P Global Market Intelligence poll of analysts.
Revenue in the quarter decreased 3.6% on year to INR275.68 billion, while expenses rose 2.6% to INR220.34 billion.
Coal India said the Covid-19 pandemic had no significant impact on earnings or carrying value of its assets.
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