Failed to achieve Q4 targets; wage hikes to stay: Coal India CMD
By Devina Menon | Published On: May 29, 2012 10:15 (IST) | Duration: 7 min, 07 sec
State-run coal miner Coal India (CIL) posed a 4.9 per cent dip in its consolidated net profit at Rs 4,013 crore for the fourth quarter ended March 31, due to higher staff expenses. Commenting on the results, Narsing Rao, CMD, Coal India said that the company failed to achieve targets. “Production target for FY12 were hit by rains. Our focus now is to produce thermal coal,” he said adding that wage hikes will stay for the next four years.