Coal India Q4 profit jumps 46% to ₹6,693 cr

Coal India reported a rise of almost 46% in its net profit for the quarter ended March 31, 2022 in consolidated terms. India’s biggest coal miner had posted a consolidated net profit of ₹4,586.78 crore in the year-ago period.

The company registered sales worth ₹30,046.25 crore during the quarter under review compared with ₹24,510.80 crore. Total revenue from operations stood at ₹32,706.77 crore during Q4 FY22, against ₹26,700.14 crore in Q4 FY21.

Total expenses of Coal India increased to ₹25,161.20 crore during March quarter this year from ₹21,515.60 crore in the same quarter last year.

Production of raw coal during the March quarter of FY22 increased to 209 million tonnes from 203.42 million tonnes a year ago. Off take of raw coal also grew to 180.25 million tonnes during this period from 164.89 million tonnes.

The company sold 177.76 million tonnes of raw coal, worth ₹28,863.05 crore in the January-March period. Total washed coal sales were 2.21 million tonnes, bringing in ₹793.02 crore during this period.

For the entire fiscal 2022, the net profit was ₹17,358.10, up almost 37% from 12,699.89 crore in the previous fiscal. Sales during FY22 increased to ₹1,09,713.50 crore from 90,026.01 crore in FY21. Total expenses grew to ₹89,993.15 crore from ₹75,756.63 crore.

The board of directors of Coal India has recommended a final dividend of ₹3 per equity share for the financial year 2021-22, subject to shareholders’ approval during the upcoming annual general meeting.

Ahead of the earnings, the shares of Coal India closed the day’s trade in red at ₹180.60, down 1.80 points or 0.99%. The share had touched an intraday high of ₹185.50, after opening at ₹183.60. It later slipped to the intraday low of ₹180.10, before paring losses.