New Delhi, Nov 12 (PTI) Shares of Coal India Ltd (CIL) on Thursday dipped nearly 4 per cent in early trade on the bourses after the firm reported a 16.3 per cent decline in consolidated net profit for the September quarter.

CIL's stock was down 3.85 per cent to Rs 121.05 at the BSE.

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On the NSE, it declined 3.85 per cent to Rs 121.

The earnings were announced post market hours on Wednesday.

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CIL on Wednesday reported 16.3 per cent decline in consolidated net profit at Rs 2,948.12 crore for September quarter on the back of higher expenses.

The company posted a profit of Rs 3,522.70 crore in the July-September period of the previous fiscal, CIL said in a filing to BSE.

Income during the quarter marginally increased to Rs 22,237.82 crore, from Rs 22,012.94 crore in the year-ago period, the filing said.

Expenses during the quarter increased to Rs 18,177.82 crore, over Rs 17,734.44 crore, it said.

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