Consol Profit Plunges on Rising OpEx

Coal and natural gas producer Consol Energy Inc reported a nearly 50 percent fall in quarterly profit as exploration and production costs shot up.

Net income from continuing operations fell to $73.7 million, or 32 cents per share, in the quarter ended Dec. 31, from $146.6 million, or 64 cents per share, a year earlier.

Revenue rose 13 percent to $935.7 million.

Exploration and production costs rose nearly 24 percent to $294.3 million.

Reporting by Narottam Medhora