Profit rises 46% YoY to Rs 6,693 crore, beats estimates

NEW DELHI: Mining giant Coal India on Wednesday said its consolidated net profits for the quarter ended March stood at Rs 6,692.94 crore, up 45.91 per cent from Rs 4,586.78 crore in the same quarter last year.

The profit figure is higher than ET Now analysts’ poll projection of Rs 5,734 crore.

Revenue from operations for the quarter came in at Rs 3,2706.77 crore, up 22.49 per cent from Rs 26,700.14 crore in the year-ago quarter.

The board of directors of the company announced a Rs 3 per share dividend subject to shareholder approval in the annual general meeting (AGM).

The company said it produced 209 million tons of coal during the March quarter, compared to 203.42 million tons. The offtake, including purchased coal, was 180.25 million tons compared to 164.89 million tons.

Ahead of the earnings announcement, the stock fell about a per cent to Rs 181.