By Kosaku Narioka
Coal India Ltd. said its third-quarter net profit fell 14% from a year earlier due to higher expenses despite slower sales.
Net profit for the quarter ended December fell to 39.24 billion rupees ($550.4 million) from INR45.67 billion a year ago, the coal-mining company said late Tuesday.
Third-quarter revenue dropped 6.1% from a year earlier to INR246.02 billion, Coal India said.
The company said expenses rose 0.5% to INR192.67 billion owing to higher employee benefits, power and finance costs.
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