MUMBAI – Coal India on Friday reported a 12.5% year-on-year (YoY) rise in consolidated net profit for the quarter ended September 2023 to Rs 6,800 crore, which was way above an ETNow poll of Rs 5,990 crore.
Consolidated revenue from operations rose nearly 10% on year to Rs 32,776.41 crore and was also above the estimated Rs 31,838 crore.
The board has recommended an interim dividend of Rs 15.25 a share for the current financial year. The coal major has fixed November 21 as the record date for the same.
Sequentially though, the bottomline declined by nearly 15%, and the topline fell by 9%.
Operating profit, calculated as earnings before interest, taxes, depreciation and amortisation (EBITDA), increased by 12% on year to Rs 8,137 crore. Operating margin improved 43 basis points to 24.83%.
The total production for the reported quarter was 157.43 million tonne, compared with 139.23 million tonne a year ago, and 175.48 million tonne a quarter ago.
The total offtake was 173.73 million tonne, compared with 154.53 million tonne a year ago, and 186.95 million tonne a quarter.
September quarter is typically a seasonally weak one, which impacted offtake.
Other income during the quarter was Rs 1,984 crore, compared with Rs 1,761 crore a year ago. Total expenses, including finance cost, was Rs 26,000 crore, compared with Rs 23,770 crore a year ago.
The net tax outgo for the quarter was higher at Rs 2,036.51 crore, from Rs 1,643.49 crore a year ago.
For the six months ended September, the consolidated revenue rose 6% on year to Rs 68,759.62 crore, while the profit declined by around 1% to Rs 14,771 crore.
Ahead of the earnings, shares of the world’s largest coal company ended flat at Rs 323.40 on the National Stock Exchange.
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