Shanxi Coking Coal Energy Q3 profit tumbles 52% on year

Shanxi Coking Coal Energy Co., Ltd., a listed subsidiary of Shanxi Coking Coal Group, China's largest coking coal producer, reported a 52.2% year-on-year slump in its net profit for this year's third quarter at Yuan 420 million ($57.8 million), according to the company's quarterly report.

Revenue for the July-September quarter fell 17.9% on year to Yuan 27.18 billion, while net profit excluding non-recurring items stood at Yuan 425.85 million, down 51.8% on year, the report showed. Behind the decline in profits was mainly lower coal selling prices, the company noted, although no specific sales prices