Dragged down by a drop in revenue from operations and other income, Coal India Ltd (CIL) registered a marginal drop (less than one per cent) in consolidated net profit at ₹4,589 crore for the quarter ended March 31, against ₹4,626 crore in the same period last year.

Revenue from operations on consolidated basis dropped by nearly three per cent to ₹26,700 crore during the quarter under review compared to ₹27,568 crore in the same period last year.

The board of directors of CIL recommended a final dividend of ₹3.50 per equity share of face value of ₹10 each for the financial year 2020-21, subject to approval of the members at the ensuing annual general meeting.

Other income dropped by nearly 43 per cent to ₹1,274 crore, against ₹2,253 crore in the same period last year.

CIL witnessed a five per cent drop in production during the January-March 2021 quarter at 203.42 million tonne (mt), against 213.71 mt in the same period last year. Offtake was marginally up (by less than one per cent) at 164.89 mt (164.33 mt).

The coal behemoth posted 24 per cent drop in consolidated net profit at ₹12,702 crore for the year ended March 31, against ₹16,700 crore in the same period last year. Revenue from operations was down by six per cent at ₹90,026 crore (₹96,080 crore).

Production was down by less than one per cent at 596.22 mt (602.14 mt) while offtake was down by a little over one per cent at 574.48 mt (581.92 mt) during FY-21.

On a standalone basis, the company posted 76 per cent drop in net profit at ₹2,587 crore during the quarter under review against ₹10,632 crore in the same period last year. Revenue from operations on a standalone basis was down 38 per cent at ₹204 crore (₹329 crore).

The company’s scrip closed at ₹159.30, down 2.06 per cent, on the BSE on Monday.

Related Topics
comment COMMENT NOW