Coal India fourth-quarter profit plunges 52 pc on higher expenses

Coal India Ltd posted a 52 per cent plunge in fourth-quarter profit on Tuesday, hurt by higher expenses.

Profit was 12.95 billion rupees ($190.55 million) in the three months ended March 31, compared with 27.19 billion rupees a year earlier, the coal miner said. The government has 79 per cent sake in the company.

Coal production rose to 183.45 million tonnes from 176.37 million tonnes a year earlier.

Total expenses jumped 24 per cent to 277.57 billion rupees.