Coal India Q4 net profit rises 26% — PSU declares dividend of ₹5 per share

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

State-owned Coal India Ltd (CIL) on Thursday (May 2) reported a 25.8% year-on-year (YoY) increase in net profit at ₹8,640.5 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Coal India posted a net profit of ₹6,869.5 crore, the company said in a regulatory filing. The company’s revenue from operations dipped 1.9% to ₹37,410.4 crore against ₹38,152.3 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA rose 21.5% to ₹11,337.6 crore in the fourth quarter of this fiscal over ₹9,333.3 crore in the corresponding period of the previous fiscal.

The EBITDA margin stood at 30.3% in the reporting quarter against 24.5% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Also Read: Coforge declares dividend of ₹19 per share as Q4 net profit zooms 94%

The company’s consolidated net profit stood at ₹6,875.07 crore in the year-ago period. Its consolidated income in the January-March period declined to ₹39,654.50 crore from ₹40,371.51 crore a year ago. The maharatna firm said it posted 25.8% growth in profit after tax (PAT) on a consolidated basis to ₹8,640 crore in the fourth quarter of FY24.

The board of directors, in its meeting, had recommended payment of the final dividend for the financial year 2023-24 at ₹5 per share of the face value of ₹10 and is subject to the approval of the members at the ensuing annual general meeting of the company.

This was in addition to the interim dividend of ₹20.50 per share CIL had already paid earlier in the fiscal. Thus, the total dividend for the fiscal climbs to ₹25.50 per share, which is 255% of the face value of a single share.

During 2023-24, the state-owned mining behemoth contributed ₹60,140 crore to the government exchequer, both central and states where it operates. The company’s coal supplies increased to 201.6 MT in the fourth quarter of FY24, up 8% compared to 186.9 MTs in the corresponding quarter in FY23. This gave the heft to the company’s profitability.

Also Read: South Indian Bank Q4 net profit dips 14% to ₹287 crore, NII rises to ₹875 crore

CIL produced 241.75 million tonnes (MT) of coal in the fourth quarter of 2023-24, registering a growth of 7.8% over 224.16 MT produced during the same quarter in the previous fiscal. CIL accounts for over 80% of the country’s domestic coal production.

The results came after the close of the market hours. Shares of Coal India Ltd ended at ₹453.25, down by ₹1.05, or 0.23%, on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow