Coal India Q3 Results: Profit soars 18% YoY to Rs 9,094 crore

CIL’s consolidated sales increased to Rs 38,357.23 crore in the October-December period from Rs 36,754.29 crore in the corresponding period of the previous fiscal year, an increase of 4.4 percent

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Coal India Ltd (CIL) on February 12 reported a 17.8 percent rise in consolidated net profit to Rs 9,093.69 crore for the quarter ended December 31, 2023. The government-owned company had reported a net profit of Rs 7,719.11 crore in the year-ago period.

Revenue from operations increased 2.8 percent to Rs 36,153.97 crore from Rs 35,169.33 crore in the quarter under review. Moreover, CIL’s consolidated sales increased to Rs 38,357.23 crore in the October-December period from Rs 36,754.29 crore in the corresponding period of the previous fiscal year, an increase of 4.4 percent.

The state-owned company also said that the board has declared its second interim dividend for financial year 2023-24 at Rs 5.25 per share. The dividend will be paid out on March 12.

The company's earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 13 percent to Rs 13,576.35 crore in the third quarter of this fiscal year over Rs 11,973.68 crore in the year-ago period. The EBITDA margin stood at 35.4 percent in the reporting quarter compared to 32.6 percent in the corresponding period of the previous fiscal.

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

The company said raw coal production was at 198.994 million tonnes during the quarter, up from 180.064 million tonnes in the comparable quarter last year.

Offtake of raw coal stood at 191.195 million tonnes against 175.789 million tonnes in the year-ago quarter.

On February 12, Coal India shares closed at Rs 432.8 apiece on the NSE against their previous closing, down 5 percent.