(a) the details of the net profit of coal India Limited during the last five years and the current financial year;
(b) whether there has been a decline in the net profit of Coal India Limited at present;
(c) if so, the details thereof and the reasons therefor;
(d) whether Coal India Limited has sent any suggestion on proposal to the Government for increasing its net profit; and
(e) if so, the details of the decision taken by the Government on the said proposals?
MINISTER OF RAILWAYS AND COAL
(SHRI PIYUSH GOYAL)
a. to (c) The details of the net profit of Coal India Limited during the last five years and the current financial year are as under:
Rs. in crore
Year 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 ( till 30.09. 2018)
Net profit 15111.67 13726.70 14266.78 9279.77 7020.22 6871.14
At present, the profit of Coal India Limited in the current year (FY 2018-19) is showing upward trend. During the 1st half of current fiscal (up to 30.09.2018), the profit has been Rs. 6871.14 crore compared to Rs. 2721.21 crore during the same period of financial year 2017-18, registering an increase of 152.5%.
However, there was wage settlement during FY 2017-18 (National Coal Wage Agreement – X) which had an incremental impact of about Rs. 2700 Crore over previous year and there was upward revision in ceiling of gratuity from Rs. 10 lac to 20 lac per employee, which had an incremental impact of Rs. 7384 Crore towards past period services. The above two reasons largely accounted for decline in profits during FY 2017-18 compared to previous year.
(d) No, Madam.
(e) Does not arise.
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