New Delhi: State-run coal miner Coal India Ltd (CIL) has reported a 48 percent rise year-on-year basis and a 55.36 percent rise on sequential basis in consolidated net profit at Rs 4,558.4 crore in Q3 of FY22, CIL's financial results show. The coal miner had registered a net profit of Rs 2,932.73 in Q2 of the current fiscal and Rs 3,084.10 crore in the corresponding quarter of the previous financial year.
For the nine-month April-December period, CIL has recorded 31.43 percent rise in net profit at Rs 10,663.42 crore, up from Rs 8,113.21 crore in the corresponding period of the last fiscal. The Board of Directors of Coal India Limited has approved a second interim dividend of Rs 5 per share on a face value of Rs 10 per share.
The robust rise in profit can be attributed to the spurt in international coal prices in the reported quarter and a 13 percent rise in coal offtake in the December quarter due to increased demand for domestic coal in both power and non-power sectors.
Coal India's consolidated revenue from operations rose 20 percent year-on-year to Rs 28,433.5 crore for the reported quarter. The coal miner's average realisation per tonne of coal sold under fuel supply agreements was at Rs 1,369.85 in the December quarter, up 1.2 percent year-on-year. CIL saw an average realisation of Rs 1,947.2 per tonne on coal sold through the e-auction process, which was higher by 33 percent.
Overall, realisations for Coal India were at Rs 1,497 per tonne in Q3 of FY22 against Rs 1,408 recorded in the corresponding quarter of the previous fiscal, marking an improvement of 6.3 percent.
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