Sci-tech

Abbott India Q2 profit up 83% at Rs 137.52 cr

Abbott India Q2 profit up 83% at Rs 137.52 cr”

The miner produced 113.04 million tonnes (MT) of coal in the July-September quarter of the current fiscal, as against 104.37 mt in the year-ago period.

In 2017-18, the miner has targeted to produce 600 mt of coal and it produced 278.01 mt during the April to October period of the current fiscal.

According to CIL chairman and managing director Gopal Singh, fall in energy generation from alternative and environment-friendly sources like hydel and nuclear has also pushed up the demand for coal, with thermal plants witnessing a fall in coal stocks. Likewise, hydro power generation was 17.16% lower than projected.

Kolkata: Coal India Ltd (CIL) has reported lower profits for the six straight quarter.

Its net sales from operations for the quarter stood at Rs 17748 crore compared to Rs 16788 crore, in the year-ago, it said. This was way below the Bloomberg consensus estimates of Rs 2,033.5 crore.

Raw material cost jumped 40 percent year-on-year to Rs 3,075 crore.

Other Income declined 56 percent to Rs 610.70 crore year-on-year.



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