Coal India net profit drops 40% to Rs. 369 cr

United Bank of India United Bank United Bank quarterly earning United Bank revenue

Coal India Ltd (CIL) has reported lower profits for the six straight quarter. During July-September 2017, CIL supplied 104.34 MTs of coal to the Power Stations against 91.81 MTs on a like-to-like quarter a year ago, registering a growth of 13.6%.

Constant coordination and synergizing the efforts with Railways, with the help of Ministry of Coal, witnessed the average wagon loading tweaking up to a growth of 7% during July-September 2017. During current year's Q2 (second quarter), CIL's average loading of rakes per day went up to 208.8 against 195.2 rakes per day on a same quarter comparison of last year.

The bank's net non-performing assets (NNPA) increased to ₹7,279.6 crore in this period against a ₹7,185.2 crore NNPA in the second quarter of fiscal 2017, a bank statement said.

Coal supplies to thermal power stations increased by 12.53 MT during the second quarter of current fiscal compared to the same quarter past year. "The three ministries are in regular discussion to prepare a plan for robust coal supply to power sector when the demand increases December onwards", said a senior official in the ministry of power. "Coal import (all types of coals) in October 2017 stood at 16.65 mt (provisional) against 16.68 mt in October 2016 and 15.68 mt (revised) in September 2017", said the online procurement and sales entity jointly floated by state-owned SAIL and Tata Steel.

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FDx Advisors Inc. Acquires 10427 Shares of TJX Companies, Inc. (The) (TJX)
Moreover, Vnbtrust National Association has 0.13% invested in Plains All American Pipeline, L.P. (NYSE:PAA) for 12,000 shares. The stock witnessed -0.05% declines, 6.52% gains and 8.77% gains for the 1-month, 3-month and 6-month period, respectively.

The company said coal production has also risen up sharply during the second quarter of the present financial year with CIL as whole producing 113.04 MT of coal registering a healthy growth of 8.3 per cent on a quarter-on-quarter comparison.

BASF India today reported a turnaround with net profit of Rs 172.91 crore in the September quarter due to new product launches in agricultural solutions business and volume growth in other segments.

Profit from continuing operations came in at 13.10 billion rupees ($200.37 million) for the quarter ended September 30, compared with 9.25 billion rupees a year earlier, the company said in a filing on Tuesday. Coal production during the same quarter a year ago was 104.37 million tonnes. Accordingly, the revenue from operations and total expenses for the quarter and half year are not comparable with the previous periods, the company said in its filing to BSE on Saturday.

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