Coal India Q2 profit falls 16% to ₹2,952 cr

Our Bureau Kolkata | Updated on November 11, 2020

Coal India Ltd has registered a 16 per cent drop in consolidated net profit at ₹2,952 crore for the second quarter ended September 30, 2020, as compared with ₹3,523 crore same period last year.

Revenue from operations was up by nearly four per cent on a consolidated basis at ₹21,153 crore (₹20,383 crore) during the quarter under review.

Interim dividend

The company’s board has declared an interim dividend of ₹7.50 a share of the face value of ₹10 for the financial year 2020-21.

CIL has fixed November 20 as the ‘Record Date’ for the purpose of payment of interim dividend. The date of payment of the interim dividend would be ‘on and from November 27’, the company said in a notification to the BSE on Wednesday.

Total expenses on a consolidated basis increased by nearly three per cent to ₹18,178 crore (₹17,734 crore).

Coal production during the quarter increased by nearly 11 per cent to 114.98 million tonnes (mt), as compared to 103.99 mt same period last year while offtake was up by over nine per cent at 133.96 mt (122.44 mt).

The state-owned miner sold close to 108.15 mt of coal through the FSA (fuel supply agreement) route amounting to ₹15,269.16 crore. The average realisation was close to ₹1,412.12 a tonne.

It also sold around 22.36 mt of coal through the e-auction route amounting to ₹3,213.38 a tonne. The average realisation through e-auction sale was ₹1,437.36 a tonne.

Published on November 11, 2020

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