- However, the consolidated net profit of Coal India Ltd has registered a growth of 53 percent y-o-y in Q1 of FY 2021-22 at Rs 3,174.74 crore
- On year-on-year basis, Coal India has recorded a 37 percent rise in revenue from operations at Rs 25,282.15 crore
New Delhi: Hit hard by the second wave of the COVID-19 pandemic, state-run Coal India Ltd (CIL) has recorded a loss of Rs 49.82 crore on a standalone basis in Q1 of FY 2021-22. In the corresponding quarter of the previous financial year, when a nationwide lockdown was put in place to curb the spread of COVID-19, CIL had recorded a standalone net profit of Rs 11.89 crore. In the preceding March quarter of FY 2020-21, Coal India had recorded a standalone profit of Rs 2,587.74 crore.
Coal India’s consolidated net profit rises 53% y-o-y
However, the consolidated net profit of Coal India Ltd has registered a growth of 53 percent in Q1 of FY 2021-22 at Rs 3,174.74 crore, up from Rs 2,077.51 crore recorded in the corresponding quarter of FY 2020-21. On a quarter-on-quarter basis, Coal India’s net profit has fallen by 31 percent. In the March quarter of FY 2020-21, Coal India had recorded a net profit of Rs 4,588.96 crore.
The Board of Directors of Coal India have recommended a final dividend of Rs 3.50 per equity share for the financial year 2020-21 on June 14, which is subject to the approval of shareholders in the Annual General Meeting (AGM) which is yet to be held for the financial year 2020-21.
Coal India Q1 2021: 37% rise in revenue from operations
On year-on-year basis, Coal India has recorded a 37 percent rise in revenue from operations at Rs 25,282.15 crore. However, on a quarter-on-quarter basis, Coal India has seen its revenue dip by 5.31 percent in Q1 of FY 2021-22. The company has also witnessed a sharp rise in expenses during the June quarter on account of raw material cost. Coal India’s consolidated total expenses in Q1 of the current fiscal jumped 31.3 percent year-on-year to Rs 21,626.5 crore.
CIL coal offtake dips 2.70% q-o-q
In the June quarter of FY 2021-22, Coal India has recorded a 2.70 percent dip in coal offtake quarter-on-quarter at 160.44 Million Tonnes (MT). However, on a year-on-year basis, there is a growth of 33 percent because of a low bas in the year-ago period when coal offtake was severely hit by a nationwide lockdown.
Coal India’s coal production dropped 39.05 percent quarter-on-quarter in Q1 of FY 2021-22 at 123.98 MT. On a year-on-year basis, it grew by 2.42 percent.
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