Coal India Ltd's Q2FY19 consolidated net profit rises 733% yoy to Rs3,086cr : Misses Estimates

The company’s consolidated revenue stood at Rs22,198cr, up 22.3% yoy but down 8.5% qoq

Nov 12, 2018 03:11 IST India Infoline Research Team

Coal India Ltd Q2FY19

Consolidated Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 22,198 22.3
EBITDA 3,914 378.3
EBITDA Margin (%) 17.6 1,312
Net Profit (adjusted) 3,086 733.2
***EBITDA margin change is bps

Coal India missed estimates for Q2FY19 as margins were impacted by higher than expected operational costs. Revenue grew by 22.3% yoy to Rs22,198cr (expectation Rs21,874cr). EBITDA stood at Rs3,914cr, up 378.3% yoy against estimates of Rs4,435cr. EBIDTA margin rose by 1,312bps yoy to 17.6% for Q2FY19. Net Profit stood at Rs3,086cr against an estimate of Rs3,079cr.
  • Production for Q2FY19 stood at 119.6mn tonnes, an increase of 5.8% yoy.
  • Offtake for Q2FY19 stood at 137.4mn tonnes, an increase of 4.4% yoy.
  • Sales for the quarter across categories for Q2FY19 stood at:
    • FSA – 116.8mn tonnes, up 11.7% yoy
    • E-auction – 17.7mn tonnes, down 24.1% yoy
    • Washed coal (Coking) – 0.33mn tonnes, down 43.1% yoy
    • Washed coal (non-Coking) – 2.11mn tonnes, down 9.4% yoy
  • Realisations (per tonne) for the quarter across categories for Q2FY19 stood at:
    • Blended Realisations – Rs1,496 (up 12.4% yoy)
    • FSA – Rs1,308 (up 6.9% yoy)
    • E-auction – Rs2,591 (up 60.5% yoy)
    • Washed coal (Coking) – Rs6,636 (up 10.6% yoy)
    • Washed coal (non-Coking) – Rs1,972 (up 14.6% yoy)
  • Cash and current investments at the end of 1HFY19 stood at Rs39,583cr

Technical View:

Coal India Ltd ended at Rs. 264.05, down by 4.15 points or 1.55% from its previous closing of Rs. 268.20 on the BSE.
The scrip opened at Rs. 270 and touched a high and low of Rs. 271.20 and Rs. 263.30 respectively. A total of 50,37,300 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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