Q2FY21: Coal India’s consolidated net profit down 16%, board approves interim dividend

• Coal India Q2FY21 results are out, the Maharatna posted a 16% drop in net profit year-on-year

• The Coal India board has approved an interim dividend at a rate of Rs 7.50 per share for FY'21 

Kolkata: (Coal India News) Coal India Ltd has posted second-quarter results in BSE filing on Wednesday. In Q2FY21 the coal Maharatna company has reported a 16 percent fall in its consolidated net profit to Rs 2,951 crore in the second quarter of the current fiscal. The miner had posted a net profit of Rs 3,523 crore in the year-ago period.

The Maharatna coal company's revenue from sales was at Rs 19,484 crore during the quarter under review as against Rs 18,986 crore registered in the corresponding period last year, the miner said in the regulatory filing in the stock exchange.

The important thing to note in the results is the contractual expenses that jumped sharply by about Rs 1,000 crore to Rs 3,311 crore in three months ended on September 30, 2020.

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Coal India also said its board of directors approved an interim dividend at a rate of Rs 7.50 per share for 2020-21 fiscal.

The Maharatna PSU has produced 114.98 million tonnes of coal in the September quarter, which is more than 10 million tonnes up from 104 million tonnes in the year-ago period. Coal India's total offtake too grew considerably during the last quarter. The offtake was at 133.9 million tonnes in the July- September period as against 122.44 million tonnes in the same quarter last year.

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