Coal India Ltd consolidated PAT grows 13% YoY to Rs 6,800 cr

The profit surge on the back of a spike in sales and a greater profit share from the company's joint ventures. Contributions from joint venture profits for this quarter amounted to Rs 89.75 crore, a notable improvement from the negative Rs 140.75 crore during the corresponding period in the previous year.

The revenue from operations witnessed an almost 4 percent rise, reaching Rs 3,277 crore in the reviewed quarter. Additionally, consolidated sales for the July-September period increased from Rs 27,538.59 crore to Rs 29,978.01 crore compared to the previous fiscal year.

Earnings before interest, tax, depreciation, and amortization (EBITDA) saw a 12 percent increase to Rs 10,121 crore in the current fiscal quarter, up from Rs 9,040 crore in the same period last year.

The EBITDA margin stood at 29.1 percent, an improvement from 28.6 percent in the corresponding quarter of the previous fiscal year.

EBITDA margin, or Earnings Before Interest, Taxes, Depreciation, and Amortization margin, is a financial metric that expresses a company's EBITDA as a percentage of its total revenue. It is a profitability ratio that provides insight into a company's operating efficiency and its ability to generate profits from its operations.

The company's board declared its first interim dividend for the fiscal year 2023-24 at Rs. 15.25 per share, with the "Record Date" set for Tuesday, 21st November, as per the regulatory filing.

Coal India Ltd, which accounts for over 80 percent of domestic coal output, reported a 9 percent increase in total expenses for the second quarter, amounting to Rs 26,000.05 crore compared to Rs 23,771.02 crore in the same quarter of the previous fiscal year.

This increase was primarily attributed to higher wage expenses and lower e-auction prices.

Raw coal production for the quarter rose to 157.426 million tonnes from 139.228 million tonnes in the comparable quarter last year, while the off-take of raw coal increased to 173.731 million tonnes, up from 154.533 million tonnes in the same quarter of the previous year.