Coal India net profit down 52% in Q4
Kolkata, May 29: Coal India on Tuesday reported a 52 per cent fall in its consolidated net profit to Rs 1,295.34 crore during the quarter ended March 31, 2018, as compared to Rs 2,718.8 crore in the year-ago period.
Its revenue from operations during the quarter under review was at Rs 26,909.17 crore, up by 8.28 per cent from Rs 24,851.46 crore in the corresponding quarter of 2016-17.
However, the miner said post applicability of Goods and Services tax (GST) from July 1, 2017, "revenue from operations are disclosed net of GST". Accordingly, the revenue from operations and total expenses for the quarter are not comparable with the corresponding period of previous fiscal.
The company's total expenses during the March quarter stood at Rs 27,757.18 crore as against Rs 22,352.75 crore in the same quarter of previous fiscal.
Its employee benefits expense increased sharply to Rs 16,653.86 crore in the fourth quarter of 2017-18 as compared with Rs 9,240.67 crore in the same period last year.
Employee benefits expense for the quarter includes a provision of Rs 646.87 crore towards pay revision of the executive employees.
The coal behemoth produced 183.45 million tonnes during January to March period of 2017-18 and its off-take during the period was at 158.86 million tonnes.
The miner also reported a 24 per cent fall in its consolidated net profit for the financial year 2017-18 to Rs 7,020.22 crore as compared to Rs 9,279.77 crore in 2016-17.
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A strong magnitude 6.1 earthquake shakes Indonesia's Java Island, felt in Jakarta
Jakarta, Apr 27: A strong magnitude 6.1 earthquake shook the southern part of Indonesia's main island of Java on Saturday, but there were no immediate reports of injury or significant property damage.
The U.S. Geological Survey said the quake struck 102 kilometers (63 miles) south of Banjar city at a depth of 68.3 kilometers (42.4 miles). There was no tsunami warning.
High-rises in the capital Jakarta swayed for around a minute and two-story homes shook strongly in the West Java provincial capital of Bandung and in Jakarta's satellite cities of Depok, Tangerang, Bogor and Bekasi. The quake was also felt in other cities in West Java, Yogyakarta and East Java province, according to Indonesia's Meteorology, Climatology and Geophysical Agency.
The agency warned of possible aftershocks.
Earthquakes are frequent across the sprawling archipelago nation, but they are rarely felt in Jakarta.
Indonesia, a seismically active archipelago of 270 million people, is prone to seismic upheaval because of its location on major geological faults known as the Pacific “Ring of Fire.”
A magnitude 5.6 earthquake in 2022 killed at least 602 people in West Java's Cianjur city. It was the deadliest in Indonesia since a 2018 quake and tsunami in Sulawesi killed more than 4,300 people.
In 2004, an extremely powerful Indian Ocean quake set off a tsunami that killed more than 230,000 people in a dozen countries, most of them in Indonesia's Aceh province.
