Coal India advanced 0.94% to Rs 457.50 after the company reported 25.8% rise in consolidated net profit to Rs 8,640 crore in Q4 FY24 from Rs 6,869 crore in Q4 FY23.
Net sales, however, declined 3% to Rs 34,263.89 crore in the fourth quarter from Rs 35,161.44 crore recorded in the same period last year.
The companys coal supplies shot up to 201.6 MTs in the Q4 FY 2023-24, up by 8% compared to 186.9 MTs of corresponding quarter in FY 2023. This gave the heft to the companys profitability.
CIL produced 241.75 million tonnes (MTs) of coal in the fourth quarter of FY 2023-24 chalking up a robust 7.8% growth over a high base of 224.16 MTs during the same quarter of last fiscal.
Profit before tax in Q4 FY24 stood at Rs 11,430 crore, up by 19.4% from Rs 9,569 crore in Q4 FY23.
For FY24, CIL has recorded net profit and revenue of Rs 37,369 crore (up 17.8% YoY) and 1,42,324 crore (up 3% YoY), respectively.
Coal India is a coal mining company engaged in the production and sale of coal. As of 31 March 2024, the Government of India held 63.13% stake in the company.
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