Coal India Q2 net profit zooms 106% to Rs 6,044 crore on high sales

National miner Coal India’s (CIL’s) net profit for the June-September quarter this financial year jumped 102 per cent to Rs 6,044 crore against Rs 2,933 crore during the same period year ago.
 

The rise comes on the back of increased sales of coal during the peak demand months, coupled with a rebound in power demand after Covid years. 
 

The revenue of the miner increased 28 per cent year-on-year (YoY) to Rs 29,838 crore during the second quarter of the current financial year. In the April to September period, the revenue rose by 33 per cent. The company’s profit for the first half of the fiscal year spiked 143 per cent to Rs 14,878 crore.
 

According to the company’s presentation to investors, it registered a sale of 154 million tonnes (mt) of coal amounting to Rs 27,538 crore with an average realisation of Rs 1,781 per tonne.
 

During the April-October period, CIL’s coal production increased 17 per cent to 350 mt YoY. Offtake of coal rose 6 per cent annually to 385 mt during the April to October period.