[SMM Flash News] Coal India Q1 Profit Misses Estimates on Weak Output and Rising Costs
Coal India reported a 0.6% year-on-year increase in consolidated net profit to INR 88.52 billion for the first quarter, missing market expectations of INR 99.43 billion. The weaker-than-expected performance was driven by lower coal production and higher operating costs, despite stronger coal price realizations. Coal production declined 7% year-on-year during the quarter, while sales increased 4%. Total expenses rose about 12% to INR 368.16 billion, reducing the company's net profit margin to 19% from 27% a year earlier.