PTI | May 29, 2012, 11.41AM IST
KOLKATA: State-owned Coal India Ltd (CIL) on Monday reported a 4.9 per cent decline in consolidated net profit at Rs 4,013 crore for the fourth quarter ended March 31, due to higher provisioning for wage hike.
The company announced a net profit of Rs 4,220 crore for January-March quarter in FY 2010-11.
"Higher provision had a direct impact on the fourth quarter reducing profits by 5 per cent.
The company announced a net profit of Rs 4,220 crore for January-March quarter in FY 2010-11.
"Higher provision had a direct impact on the fourth quarter reducing profits by 5 per cent.
Outgo was about Rs 5,000 crore during the last three quarters against estimated provision of Rs 3,000 crore," CIL director-finance A K Sinha told reporters.
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