Coal India Q3 results: Net profit surges 48%; board approves interim dividend
Premium- Coal India Q3 results: The company's sales increased 20% to ₹25,991 crore during the reporting quarter as against ₹21,708 crore a year ago.
State-owned Coal India Ltd has reported a consolidated net profit of ₹4,556 crore for the December quarter, up 48% from ₹3,084 crore in the corresponding quarter of last year.
The company's sales increased 20% to ₹25,991 crore during the reporting quarter as against ₹21,708 crore a year ago.
Meanwhile, revenue from operations, too surged 20% to ₹28,433 crore when compared with the last year period of ₹23,686 crore.
Further, the Board has approved the payment of second interim dividend at ₹5 per share for the current financial year 2021-2022.
The company has fixed 22 February as the record date for the payment of second interim dividend.
On Monday, Coal India scrip was down 2.88% to settle at ₹161.70 on NSE.
The profit before tax (PBT) during the third quarter stood at ₹6,302 crore, which is an increase of 33% from a year ago. It was ₹4,742 crore in the third quarter of last year.
The production in raw coal during the December quarter improved to ₹163.82 million ton as compared to ₹156.78 million ton in the same quarter last year.
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Meanwhile, the offtake stood at 173.77 million ton in the reporting quarter. The same was 154.46 million ton in the December quarter of last year.
The total dividend payout by Coal India during the current fiscal is likely to be higher than the 2020-21 financial year as the miner is expected to post healthy revenue and growth in profit, news agency PTI reported earlier.
The Maharatna public sector undertaking has already announced the first interim dividend at ₹9 per share in December this fiscal to provide support to the government for its growing expenditure in the wake of the Covid-19 pandemic.
The interim dividend outgo was around ₹5,546 crore and the government was the largest beneficiary as it received approximately ₹3,667 crore for its over 66% stake in the coal behemoth.
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