Coal India Q2 results: Co posts consolidated PAT at Rs 2,936 cr, misses estimate

MUMBAI: on Friday reported a consolidated net profit of Rs. 2,936 crore for the quarter ended September, which was flat on a year-on-year basis and below analysts’ expectations.

The company’s consolidated revenues from operations grew 10.1 per cent on-year to Rs. 23, 291.1 crore for the reported quarter, which was largely in line with Street’s estimate.

The company’s operating performance in the quarter was stable as it reported a consolidated operating profit of Rs. 3,942 crore as against Rs. 3,975 crore reported in the year-ago quarter.

However, the coal miner’s consolidated operating margin in the quarter declined to 16.93 per cent from 18.79 per cent in the year-ago quarter likely due to higher contractual expenses.

Contractual expenses in the quarter jumped to Rs. 3,992.3 crore from Rs. 3,311 crore in the corresponding quarter a year ago.

Coal India said that sales from e-auction in the quarter were at Rs. 4,304.3 crore with an average realization of Rs. 1,593.4 per tonne. The average realization from e-auction was higher than the overall average realization of Rs. 1,421.2 per tonne for the company in the reported quarter.

Shares of Coal India ended 0.2 per cent higher at Rs. 167.3 on the National Stock Exchange.