Coal India clocks 13% y-o-y growth in net profit at Rs 6,800 crore; stock hits 52-week high

13 Nov 2023 , 12:12 PM

Coal India Limited announced a 12.5% increase in consolidated net profit for the quarter ended September 30, 2023. In the previous fiscal year, the government-owned company made a net profit of Rs 6,043.50 crore.

Higher sales and a stronger profit contribution from CIL’s joint ventures (JV) fueled the profit. This quarter, the company’s JV earnings contributed Rs 89.75 crore, compared to – Rs 140.75 (in the negative) during the same period last year.

In the most recent quarter, revenue from operations climbed by roughly 4% to Rs 3,277 crore. Furthermore, CIL’s consolidated revenues grew to Rs 29,978.01 crore in the July-September quarter, up from Rs 27,538.59 crore in the previous fiscal’s equivalent period.

EBITDA increased 12% to Rs 10,121 crore in the second quarter of current fiscal year from Rs 9,040 crore the previous year. The EBITDA margin in the reporting quarter was 29.10%, compared to 28.60% in the prior fiscal period.

The company also announced that its board of directors has declared its first interim dividend for the fiscal year 2023-24 at Rs 15.25 per share. CIL has set Tuesday, November 21, 2023 as the ‘Record Date,’ according to a regulatory filing.

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