Coal India reports marginal 0.79% fall in consolidated net profit

Coal India Limited.

Coal India on Monday reported a marginal 0.79 per cent fall in consolidated net profit for the quarter ended March 2021 on the back of low production and sales. Net profit during the quarter came in at Rs 4,588.96 crore against Rs 4,625.76 crore in the corresponding quarter a year ago.

Total income during the quarter under review was Rs 27,974.12 crore against Rs 29,820.97 crore in the year-ago period. Coal India had produced 203.42 million tonnes (mt) of coal during the quarter against 213.71mt a year ago. Offtake during the quarter was flat at 164.89mt against 164.33mt a year ago.

The board of directors, which met on Monday, recommended a final dividend of Rs 3.50 per equity share for 2020-21. Coal India has already paid a cumulative Rs 7,703.43 crore through two interim dividends of Rs 7.50 per share and Rs 5 per share in November 2020 and March 2021, respectively.

The consolidated expenses of the company during the quarter dropped to Rs 21,565.15 crore from Rs 22,373.46 crore in the year ago period.

Average realisation of coal supplied through the fuel supply agreements was Rs 1,391.73 per tonne during the January-March quarter of 2020-21 against Rs 1,445.75 per tonne in the same quarter a year ago. There was also a moderation of coal sales realisation through the electronic auction from Rs 2105.74 per ton to Rs 1752.03 per ton during the quarter under review.

Coal India scrips at Rs 159.30 per share was down 2.06 per cent over the previous close at Bombay Stock Exchange.

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