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    Shanxi Coking Coal 3Qs net profit tumbles nearly 40% on yr

    sxcoal.com Company,  Cost & Profit 2023-10-27 14:17:28

    Shanxi Coking Coal Energy Group Co., Ltd. reported its net profit attributable to shareholders of the parent company declined 39.66% from a year ago to 5.64 billion yuan ($771 million) in January-September, with earnings per share at 1.0314 yuan, according to its report on October 25.

     

    The operating revenue decreased by 16.02% year on year to 40.70 billion yuan during the same period, according to the report.

     

    The company achieved operating revenue of 13.14 billion yuan in the third quarter, a year-on-year fall of 16.68% (adjusted); the net profit attributable to shareholders of the listed company was 1.12 billion yuan, down 61.91% (adjusted).

     

    The decline in its third-quarter revenue and net profit was mainly ascribed to the decrease in coal prices and sales. Meanwhile, non-recurring losses also exhibited noticeable impact, including safety-related and environmental fines.

     

    (Writing by Riley Liang  Editing by Emma Yang)
    For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

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