MUMBAI: Coal India, the world's largest coal miner by output, posted its first quarterly profit decline in five quarters, because of lower sales price and higher fuel and wage costs.
The state-owned miner said net profit for its fiscal first quarter fell to Rs 37.31 billion ($613 million) from Rs 44.69 billion a year earlier. Net sales were 165 billion rupees.
Analysts, on average, had forecast net profit of 42.40 billion rupees, according to Thomson Reuters Starmine data.
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