Coal India net profit up y-o-y 26% in March quarter

3 May 2024 , 10:07 AM

Coal India Limited (CIL)’s net profit in the March quarter increased y-o-y by 26% to Rs 8,640 crore. 

Despite a minimal 3% rise in revenue from operations to ₹1.38 trillion, the net income surged to ₹1.5 trillion. The company’s board proposed a final dividend of ₹5 per share for FY24, subject to approval at the annual general meeting.

In addition to the final dividend, an interim dividend of ₹20.50 per share had already been paid earlier in the fiscal year, making the total dividend for the fiscal year amount to ₹25.50 per share, which is 255% of the face value.

At the time of writing, the stocks were trading at ₹455.30 which is a 0.31% surge than the previous close. The stock has gained 92.19% in the last one year, and 19.25% since the beginning of the year.

During the fourth quarter of FY24, coal supply picked up pace, leading to a 25% increase in profit compared to the corresponding period in FY22, with a net profit of ₹8,640 Crore.

CIL’s Ebitda (earnings before interest, taxes, depreciation, and amortization) rose to ₹51,793 Crore, reflecting an 8.5% growth compared to the previous fiscal year.

The company’s contribution to the government exchequer, including both central and state governments where it operates, amounted to ₹60,140 Crore during FY24.

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