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Coal India tanks to 3-year low on weak Q4 numbers

Shares of Coal IndiaBSE -0.54 % tumbled to a three-year low on Tuesday after the state-run miner reported a 38.24 per cent plunge in consolidated net profit at Rs 2,716.09 crore for the quarter ended March 31, 2017.

The scrip fell as much as 2.9 per cent to Rs 259.5 apiece on BSE, posting its biggest intraday percentage loss since March 2014.

Brokerage Jefferies expects Coal India’s earnings outlook to be ‘unexciting,’ due to lower realisations from fuel supply agreemen ..

The scrip is down 10.9 per cent this year as of Monday’s close. At 10:45 am, shares of the company were trading at Rs 262.50, down nearly 2 per cent.

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