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Coal India (CIL) shares were down on the bourses today although the public sector miner reported a steady set of Q2FY20 numbers.
On the BSE, Coal India stock was down 1.09% to Rs 204.95, with volumes traded at 43,000 shares as at 10.40 am.
Higher-than-expected fuel supply agreement (FSA) realisations supported overall earnings for the September quarter. The company reported a total operating income of Rs 20,383 crore, and was down 7% YoY. The company's PAT for the September quarter came in at Rs 3,523 crore, up 14% Y-o-Y.
ICICI Securities says that the company has achieved a sales volume of 122 million tonne (MT) (down approximately 11% YoY). FSA sales volume came in at 104 MT, while FSA realisations during the quarter was at Rs 1,439/tonne (up 5% QoQ, higher than our estimate of Rs 1,350/tonne).
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