​Shares of Coal India dropped for the 7th consecutive day

Coal India Ltd., the world's top miner, dropped for the 7th day in a row after the company announced a modest fall in quarterly earnings, mainly on account of a drop in other income.

Coal India said its first quarter net profit fell 6 percent to 3,764 crore rupees compared with 4,033 crore rupees in the same quarter a year ago. Sales during April-June rose 6 percent to 19,518 crores versus 18,306 crores, the company said in a release to the exchanges, adding Other Income in the first quarter dropped 13 percent to 1,447 crore rupees.

Coal India fell 4.1 rupees, or 1.1 percent, to 367.35 rupees, nearly a 2-month low on the National Stock Exchange where 20 lakh shares shares changed hands compared with a 5-day average of 80.5 lakh shares by 10:30 AM.

Coal India's market capitalisation has inched up 4 percent in one year to 2.34 lakh crore rupees.

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