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State-owned Coal India Limited (CIL) on Wednesday posted a 178.65% rise in its consolidated net profit at ₹8,832.86 crore for the April-June quarter (Q1FY23). The company had posted a profit of ₹3,169.86 crore in the year-ago period.
On the other hand, the mining giant's revenue from operations came in at ₹35,O92 crore, up 38.8% for the quarter under review as against ₹25,282 crore in the year-ago quarter.
The company's total income also increased to ₹36,087 crore in Q1FY23 from ₹25,963 crore in the year-ago period.
CIL's total expenses in the first quarter increased to ₹23,985 crore from ₹21,626.5 crore in the corresponding quarter of the previous fiscal.
The miner was able to fetch ₹4,340 per tonne from e-auction coal. Coal India sold nearly 21 million tonne (MT) through e-auction during the April-June 2022 quarter.
CIL has dispatched 152.49 MT of coal to the power sector during April-June 2022, a year-on-year rise of 19%.
Coal India is the largest producer and supplier of the dry fuel in the country.
On Wednesday, the company's scrip on NSE closed 2.04% higher at ₹219.80.