State-owned Coal India Ltd on Monday reported a 47.7 percent 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 the 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.

Analysts in a CNBC-TV18 poll had estimated net profit at Rs 4,195 crore and revenue at Rs 27,625 crore.

Coal India reported Rs 6,825.5 crore in earnings before interest, taxes, depreciation and ammortisation (EBITDA) for the October-December period. For the year-ago period, the company had registered an EBITDA of Rs 5,164.8 crore.

The company’s EBITDA margin stood at 24% against 21.8% a year ago. According to analysts, EBITDA was expected at Rs 6,534 crore and EBITDA margin at 23.7%.

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 the 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 percent 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 the one billion tonne of fuel output target.

(With inputs from PTI)

(Edited by : Priyanka Deshpande)

First Published:Feb 14, 2022 8:09 PM IST