Coal India net profit falls 17% to Rs 8,491 cr, declares 2nd interim dividend

Coal India declared its third quarterly quarter earnings for the current fiscal on Jan 27.

Coal India Ltd on January 27 reported a 17 percent drop in its consolidated profit at Rs 8,491.22 crore for the quarter ended December 31, 2024. The state-owned company had posted a consolidate net profit of Rs 10,291.7 crore in the year-ago period, Coal India Ltd (CIL) said in a regulatory filing.

The consolidated income of the PSU in the October-December period dropped to Rs 37,922.98 crore, from Rs 38,357.23 crore in the third quarter of the previous fiscal.

The consolidated sales of the company during the third quarter declined to Rs 32,358.98 crore, over Rs 33,011.11 crore in the year-ago period.

The company's earnings before interest, tax, depreciation, and amortization (EBITDA) decreased by 5 percent to Rs 14,460 crore in the third quarter of this fiscal over Rs 15,175 crore in the year-ago period. The EBITDA margin stood at 38.1 percent in the reporting quarter compared to 39.6 percent in the corresponding period in the previous fiscal.

Coal India Dividend

The board of Coal India has declared the second interim dividend of Rs 5.60 per share for the shareholders. "The Board of Directors at its meeting held on date has declared 2nd Interim Dividend for the financial year 2024-25 @ Rs 5.60/- per equity share on the face value of Rs 10/- as recommended by the Audit Committee of CIL at its meeting held on date," the company said in an exchange filing.

The mining company's financial results met Street estimates as analysts expected the earnings to decline, primarily due to lower e-auction premiums and higher wage expenses. However, the year-on-year volume growth is expected to help counter the negative effects of a wage hike, they added.

Coal India Ltd accounts for over 80 percent of domestic coal output.

CIL's total expenses in the third quarter increased 4.25 percent to Rs 26,201.55 crore from Rs 25,132.87 crore in the corresponding quarter of the previous fiscal. This was mostly due to higher wage expenses and lower e-auction prices.

The company said coal production increased 2 percent at 202.02 million tonnes during the quarter, up from 198.99 million tonnes in the comparable quarter last year.

Off-take of coal was at 194.41 million tonnes, compared to 191.21 million tonnes in the year ago quarter.

Meanwhile, shares of Coal India on January 27 closed Rs 374 apiece on NSE, 2.36 percent lower against its previous closing.

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