State-owned Coal India Ltd on Friday (November 10) reported a 12.7% year-on-year (YoY) rise in net profit at ₹6,813.5 crore for the second quarter that ended September 30, 2023. The CNBC-TV18 poll had predicted a profit of ₹5,920 crore for the quarter under review.

In the corresponding quarter last year, Coal India posted a net profit of ₹6,044 crore, the company said in a regulatory filing.

The company's revenue from operations increased 9.8% to ₹32,776.4 crore against ₹29,838 crore in the corresponding period of the preceding fiscal. The CNBC-TV18 poll had estimated revenue of ₹31,620 crore for the quarter under review.

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At the operating level, EBITDA rose 11.8% to ₹8,137 crore in the second quarter of this fiscal over ₹7,280 crore in the corresponding period in the previous fiscal, again besting the CNBC-TV18 poll forecast of ₹7,050 crore.

The EBITDA margin stood at 24.8% in the reporting quarter compared to 24.4% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. The CNBC-TV18 poll had predicted a margin of 22.3% for the quarter under review.

Coal India's consolidated sales increased to ₹29,978.01 crore in the July-September period from ₹27,538.59 crore a year ago. However, total expenses of the company rose 9.3% in the second quarter of the current fiscal to ₹26,000.05 crore over ₹23,770.12 crore in the year-ago period.

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The average realisation per tonne of coal under the Fuel Supply Agreement (FSA) category was ₹1,541.75 during the quarter under review. The PSU, which accounts for over 80% of domestic coal output, produced 157.426 million tonne of coal in the quarter under review as against 139.228 MT in the year-ago quarter.

The company's offtake of raw coal in the quarter rose to 173.731 MT, over 154.533 MT in the year-ago period. CIL has set a production and off-take target of 780 MT for the ongoing fiscal.

Further, the board declared the first interim dividend of ₹15.25 per share for the fiscal.

The results came after the close of the market hours. Shares of Coal India Ltd ended at ₹323.45, down by ₹0.050, or 0.015%, on the BSE.

(Edited by : Shoma Bhattacharjee)

First Published:Nov 10, 2023 5:21 PM IST