CIL hit by gratuity provision but revenue growth is a bright spot

CIL hit by gratuity provision but revenue growth is a bright spot

At first glance, Coal India Ltd’s (CIL’s) reported March quarter consolidated Ebitda looks miserably low at just Rs196 crore. But employee costs rose a whopping 80% against the year-ago period, which included Rs7,384 crore towards provisions for an increase in the gratuity ceiling. This is one-off in nature. Adjusting for this, earnings are better than expected, say analysts.

Govt Preparing Law Amendment To Clarify Illegal Mining Definition

Govt Preparing Law Amendment To Clarify Illegal Mining Definition

The Centre is preparing a legislative amendment to clarify the definition of illegal mining which has a direct impact on companies such as Tata Steel, Coal India Ltd and Steel Authority of India that are facing hefty penalties because of a Supreme Court order on a contentious section of the statute.

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