Coal India Q1 results: Net profit rises 52% to ?3,170 crore

coal india

Coal India on Tuesday reported a Q1 consolidated net profit at ?3,170 crore, up 52% as compared to ?2,078 crore in the same quarter last year. The company’s total revenue from operations rose nearly 37% to ?25,282 crore as against ?18,487 crore year-on-year (YoY).

The miner’s production during the quarter stood at 123.98 million tonnes as compared to 121 mt in the year-ago quarter whereas the offtake stood at 160.44 million tonnes versus 120.8 mt.

Coal India’s total expenses in the first quarter increased to ?21,626.5 crore from ?16,470 crore in the corresponding quarter of the previous fiscal.

”The group is taking continuous measures to combat the adverse impact of COVID and has implemented manifold measures for ease of doing business. The group has considered the possible effects that may arise due to pandemic in the preparation of the financial results including the recoverability of carrying amounts of financial and non-financial assets as on 30th June, 2021. The group will continue to closely monitor any material changes arising out of future economic conditions and the resultant impact on its business, Coal India said in the exchange filing.

Shares of Coal India were down 0.2% to ?143 per share on the BSE at the last hour of Tuesday’s trading session.

News Source:- Livemint


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