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Strong market outlook to keep Coal India stock at elevated levels

The adjusted operating profit increased 11 per cent y-o-y to Rs 8,900 crore, owing to lower-than-expected employee costs, lower contractual expenses, and input costs

Coal India
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Devangshu Datta

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Coal India’s (CIL’s) second-quarter (Q2) 2023-24 (FY24) revenue increased by 10 per cent year-on-year (Y-o-Y) to Rs 32,800 crore, driven by higher volumes and fuel supply agreement (FSA) realisation.

The blended average selling price (ASP) was down 3 per cent Y-o-Y at Rs 1,726 per tonne, but the FSA ASP was up 9 per cent Y-o-Y at Rs 1,542 per tonne, while the e-auction ASP declined by 53 per cent Y-o-Y to Rs 2,828 per tonne.

Although the e-auction premium cooled off, it is still above its historical average at around 83 per cent, and it is expected to stay

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