Coal India added 3.41% to Rs 258 after the company's consolidated net profit zoomed to Rs 6,043.99 crore in Q2 FY23 from Rs 2,932.73 crore in Q2 FY22.
Net sales during the quarter increased by 29% YoY to Rs 27,538.59 crore.
While the company's raw coal production rose by 11% to 139.228 million tons, coal offtake improved by 5% to 154.533 million tons in Q2 FY23 over Q2 FY22.
Average price realization in the second quarter was Rs 1,781.31 per ton as against Rs 1,447.98 per ton in the same period last year, registering a growth of 23% on YoY basis.
Total expenses rose by 16% to Rs 23,770.12 crore in Q2 FY23 from Rs 20,424.52 crore in Q2 FY22.
Profit before tax in Q2 FY23 stood at Rs 7,687.48 crore, up by 2.1x from Rs 3,643.24 crore in Q2 FY22.
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Coal India is a coal mining company engaged in the production and sale of coal. As of 30 September 2022, the Government of India held 66.13% stake in the company.
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