Coal India slides after Q3 PAT falls 21% YoY to Rs 3084 cr

Coal India fell 0.72% to Rs 137.30 after the PSU miner posted a 21.4% decline in consolidated net profit to Rs 3084.1 crore on 2.1% rise in revenue from operations to Rs 23,686.03 crore in Q3 FY21 over Q3 FY20.

Consolidated profit before tax fell 11.1% to Rs 4,742.2 crore in Q3 FY21 from Rs 5,335.77 registered in Q3 FY20. Current tax expense rose 5.8% to Rs 1,171.85 crore in Q3 FY21 over Q3 FY20. The result was announced during market hours today, 11 February 2021.

Consolidated coal production (raw coal) jumped 6.29% to 156.78 million tonnes (MT) in Q3 FY21 as against 147.50 million tonnes (MT) in Q3 FY20. Offtake (raw coal) rose 8.6% to 153.85 MT in Q3 FY21 as against 141.60 MT in Q3 FY20.

The company sold 154.19 MT of coal worth Rs 21,708.27 crore in Q3 December 2020. The average realization stood at Rs 1407.86 per tonne.

Coal India is a coal mining company engaged in the production and sale of coal. As of 31 December 2020, the Government of India held 66.13% stake in the company.

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