Coal India Limited announced its July-September quarter results on November 12.
The largest producer of coal reported a consolidated profit after tax (PAT) of Rs 2,933 crore, decreasing marginally by 1 percent from a PAT of Rs 2,952 crore in the corresponding quarter last year. Consolidated PAT dipped 8 percent from Rs 3,174 crore reported in the preceding quarter.
The consolidated revenues from operations at Rs 23,291 crore climbed 10 percent from Rs 21,153 crore recorded in the corresponding quarter last year. However, consolidated revenues from operations declined 8 percent from Rs 25,282 crore reported in the first quarter of this financial year.
Coal India’s raw coal production increased by 9 percent y-o-y during the quarter to 126 million tonnes as compared to
115 million tonnes. Similarly, raw coal off-take was higher by 10 percent y-o-y to 147 million tonnes from 134 million tonnes YoY.
The company’s consolidated operating profit for the quarter dipped marginally by 1 percent y-o-y to Rs 3,942 crore compared to Rs 3,975 crore reported in the same period last year.
The consolidated operating margins, however, witnessed a steeper decline from 18.8 percent last year to 17 percent in this quarter. However, the coal miner’s consolidated operating margin in the quarter declined to 16.93 percent from 18.79 percent in the year-ago quarter likely due to higher contractual expenses.
Contractual expenses as a percentage of sales increased by 1 percent to 18 percent in this quarter compared to 17 percent of sales in the same quarter of last year. For the quarter, the company recorded contractual expenses at Rs 3,992 crore compared to Rs 3,311 crore in the corresponding quarter last year.
Sales from e-auction in this quarter for the company came in at Rs 4,304.3 crore with an average realisation of Rs 1,593 per tonne, the company said. This was higher than the overall average realisation that the company achieved of Rs 1,421.2 per tonne in this quarter. The stock closed at Rs 166.95 today, down Rs 0.05 from its previous close. The stock is trading higher by 36 percent from last year and by 23 percent in this financial year. However, it is trading down 15 percent in the past month.