Coal India net profit rises 17% to Rs 9,069 cr in Q3
NEW DELHI: Coal India on Monday reported a 16.9% rise in consolidated net profit to Rs 9,069.19 crore for the third quarter of the current financial year on the back of higher sales.
Consolidated net profit stood at Rs 7,755.55 crore in the year-ago period, Coal India Ltd (CIL) said in a regulatory filing. In a statement, the maharatna PSU said powered by positive performance, its consolidated profit after tax (PAT) rose sharply to an all-time high of `9,094 crore during the third quarter of the current fiscal, posting an 18% year-on-year growth.
“This was the highest PAT earning during the third quarter of any year since the company’s listing. In absolute volume, the PAT jumped by Rs 1,375 crore compared to Rs 7,719 crore of October-December 2022 period,” the statement said.The company’s consolidated sales increased to Rs 33,011.11 crore during the quarter, over Rs 32,429.46 crore in the year-ago period. CIL’s consolidated revenue from operations in the October-December period increased to Rs 36,153.97 crore from Rs 35,169.33 crore in the corresponding period of the previous fiscal, registering a growth of 3%. Its board approved second interim dividend of Rs 5.25 per share for the current fiscal, that is, 52.5 % of the face value.