Coal India Q3 net profit rises 48%; board approves interim dividend of Rs 5

State-run Coal India on Monday announced a 48% jump in consolidated net profit at Rs 4,558 crore for the quarter ending December 31, 2021. It reported net profit of Rs 3,085 crore in the year-ago period.

Consolidated revenue from operations rose 20% to Rs 28,434 crore from Rs 23,686 crore in Q3FY21.

The company's board approved payment of interim dividend of Rs 5 per share.

On Monday, the company's scrip on BSE closed 3% lower at Rs 161.70.

Consolidated expenses during the third quarter increased to Rs 22,780.95 crore from Rs 19,592.57 crore in the corresponding quarter of the previous fiscal.

The production of raw coal during the October-December period increased to 163.82 MT from 156.78 MT in the corresponding quarter of the previous fiscal.

The offtake of raw coal also increased to 173.77 MT during the quarter from 154.46 MT in the year-ago period.

The company said that sales from e-auction in October-December period stood at Rs 5,052.97 crore with an average realisation of Rs 1,947.19 per tonne.

Coal India Ltd accounts for over 80 per cent of the total domestic coal output.

State-owned CIL will pump in over Rs 1.22 trillion on projects related to coal evacuation, exploration and clean coal technologies by 2023-24, to achieve one billion tonnes of fuel output target.