Coal India significantly missed estimates for Q4FY18 after seeing an increase of Rs7,413cr (up 80% yoy) in employee expenses. Revenue grew by 4.5% yoy to Rs25,109cr (expectation Rs25,093cr). EBITDA stood at Rs195.5cr, down 94.4% yoy against estimates of Rs6,718cr. EBIDTA margin fell to 0.8% for Q4FY18. Net Profit stood at Rs1,295cr against an estimate of Rs4,299cr.
Production for Q4FY18 and FY18 stood at 183.5mn tonnes and 567.4mn tonnes respectively. This is an increase of 4% yoy and 2.4% yoy for Q4FY18 and FY18 respectively.
Offtake for Q4FY18 and FY18 stood at 158.86mn tonnes and 580.29mn tonnes respectively. This is an increase of 4.8% yoy and 6.8% yoy for Q4FY18 and FY18 respectively.
Employee expenses rose by Rs7,385cr due to increase in the gratuity ceiling from Rs10 lakh to Rs20 lakh.
Coal India Ltd is currently trading at Rs282.15, down by 2.8 points or 0.98% from its previous closing of Rs284.95 on the BSE. The scrip opened at Rs285.45 and has touched a high and low of Rs287.20 and Rs276.75 respectively. So far 63,72,573 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.
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