NEW DELHI: State-owned Coal India Ltd on Monday reported a 47.7 per cent rise in consolidated net profit to Rs 4,558.39 crore for the quarter ended on December 31, 2021, on the back of higher revenue from operations.
The PSU's consolidated net profit was at Rs 3,085.39 crore in the year-ago period, Coal India Ltd (CIL) said in a filing to BSE.The consolidated revenue from operations of the company during October-December period increased to Rs 28,433.50 crore from Rs 23,686.03 crore in the year-ago period.
Consolidated expenses during the third quarter increased to Rs 22,780.95 crore from Rs 19,592.57 crore in the corresponding quarter of the previous fiscal.The production of raw coal during the October-December period increased to 163.82 MT from 156.78 MT in the corresponding quarter of the previous fiscal.
The offtake of raw coal also increased to 173.77 MT during the quarter from 154.46 MT in the year-ago period.The company said that sales from e-auction in October-December period stood at Rs 5,052.97 crore with an average realisation of Rs 1,947.19 per tonne.
Coal India Ltd accounts for over 80 per cent of the total domestic coal output.State-owned CIL will pump in over Rs 1.22 lakh crore on projects related to coal evacuation, exploration and clean coal technologies by 2023-24, to achieve one billion tonnes of fuel output target.