Coal India's consolidated net profit tumbled 55.1% to Rs 2,079.60 crore on 26.8% decline in net sales to Rs 17,007.10 crore in Q1 FY21 over Q1 FY20.
Profit before tax in Q1 June 2020 stood at Rs 2,800.13 crore, down by 60.1% from 7,011 crore in Q1 June 2019. Current tax expense declined 69.7% year-on-year (YoY) to Rs 722.62 crore during the quarter.
Coal India's raw coal production declined 11.6% to 121.04 million tonne in Q1 June 2020 over Q1 June 2019. Coal offtake tumbled 21.55% to 120.42 million tonne during the period under review.
The average realization declined 6.6% to Rs 1,415.49 per ton in Q1 June 2020 from Rs 1,515.50 per ton in Q1 June 2019.
Coal India (CIL) is a coal mining company, which is engaged in the production and sale of coal. The firm offers products, including coking coal, semi coking coal, non-coking coal, washed and beneficiated coal, middlings, rejects, coal fines/coke fines, and tar/heavy oil/light oil/soft pitch.
As of 30 June 2020, the Government of India held 66.13% stake in the company.
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