Coal India released Q2 results, company's profit increased by 12 percent to Rs 6,799 crore
Coal India has announced the quarterly results for July-September 2023. In this announcement, the company has given information about its financial performance. Coal India said in a regulatory filing that its net profit rose 12 percent to Rs 6,799 crore in the September quarter. Along with this, yesterday India also announced to give interim dividends.
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Government company Coal India has announced its quarterly results on Friday. The company recorded a 12.5 percent increase in net profit to Rs 6,799.77 crore this quarter due to higher sales. Coal India Ltd (CIL) said in a regulatory filing that the company's net profit stood at Rs 6,043.55 crore in the year-ago period.
At the same time, its consolidated sales in the July-September period increased to Rs 29,978.01 crore from Rs 27,538.59 crore a year ago. However, the company's total expenses rose 9.3 percent to Rs 26,000.05 crore in the second quarter of the current financial year from Rs 23,770.12 crore in the year-ago period.
The average realization per tonne of coal under the Fuel Supply Agreement (FSA) category during the quarter under review was Rs 1,541.75.
Coal India Board declared a first interim dividend of Rs 15.25 per share for the financial year. PSUs, which account for over 80 percent of domestic coal production, produced 157.426 million tonnes of coal in the quarter under review, compared to 139.228 million tonnes in the year-ago quarter.
The company's raw coal offtake increased to 173.731 MT in the September quarter, from 154.533 MT in the year-ago period. Coal India Limited has set a production and offtake target of 780 MT for the current financial year.
On Friday, Coal India stocks closed at Rs 323.90 per share with a gain of 0.35 points.
