Coal India slumped 4.16% to Rs 136.05 after the coal major reported 23% decline in consolidated net profit to Rs 4,637.95 crore on 4.1% fall in net sales to Rs 25597.43 crore in Q4 March 2020 over Q4 March 2019.
Profit before tax (PBT) in Q4 FY20 stood at Rs 7447.40 crore, down by 16.2% from Rs 8892.35 crore in Q4 FY19. Tax expense fell 1.54% to Rs 2,821.64 crore in Q4 FY20 from Rs 2,865.88 crore in Q4 FY19. The result was announced after market hours on Friday (26 June 2020).
During the March quarter, raw coal production increased by 9.9% YoY to 213.71 million ton while the raw coal offtake remained almost flat at 163.87 million tonne.
Consolidated net profit fell 4.3% to Rs 16,714.19 crore on 3.8% decline in net sales to Rs 89,373.34 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19). Profit before tax stood at Rs 24,071.32 crore in FY20, down 11.3% from Rs 27,126.87 crore in FY19.
Coal India 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 31 March 2020, the Government of India held 66.13% stake in the company.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
