Stocks

Coal India shares tumble on weak results

PTI New Delhi | Updated on January 16, 2018 Published on December 14, 2016

cil

Shares of Coal India plunged over 3 per cent in early trade today after the company reported a steep fall in its net profit for the second quarter ended September 30, 2016.

The stock opened at Rs 296 and then dived 3.43 per cent to touch an early low of Rs 295.25 on the BSE.

A similar movement was seen on the NSE, where it opened at Rs 297 and slipped 3.49 per cent.

On Tuesday, the state-owned company had posted a 77 per cent fall in its consolidated net profit at Rs 600 crore for the July-September quarter, hit by drop in sales and higher expenses.

The PSU major had posted a consolidated net profit of Rs 2,654 crore in the corresponding period of the previous fiscal.

Published on December 14, 2016
This article is closed for comments.
Please Email the Editor