State-run miner Coal India on Friday reported a 12.73 per cent year-on-year rise in its consolidated net profit to ₹6,813.50 crore for the second quarter this fiscal, on the back of close to 10 per cent y-o-y jump in its revenue during the period.
The world’s largest coal mining company had posted a net profit of ₹6,043.99 crore for the second quarter last fiscal.
The company’s revenue from operations grew 9.85 per cent y-o-y at ₹32,776.41 crore during the period under review as against ₹29,838.07 crore for the same period a year ago, according to a stock exchange filing. Net sales rose 8.85 per cent y-o-y at ₹29,978.01 crore in the September quarter of FY24.
Total expenses increased to ₹26,000.05 crore for the July-September period this year from ₹23,770.12 crore during the same period last year.
During Q2FY24, total raw coal production stood at 157.426 million tonnes against 139.228 million tonnes during Q2FY23. Total offtake of raw coal during the period under review stood at 173.731 million tonnes compared to 154.533 million tonnes during the same period last fiscal, Coal India said in its presentation.
During the September quarter the company sold 154.65 million tonnes of coal through fuel supply agreements (FSA), where average realisation per tonne stood at ₹1,541.75. The miner sold 15.81 million tonnes of coal through e-auction, and here average realisation per tonne was ₹2838.14 during the period.
Interim dividend
The company’s board of directors declared the first interim dividend for the current financial year at ₹15.25 per share on the face value of ₹10 as recommended by the audit committee.
Coal India’s scrip ended the day at ₹323.45 apiece, down 0.02 per cent from the previous close. The company declared its results after trading hours.