Coal India Q1 Results: Net profit plunges 10% to ₹7,941 crore, marginal rise in net sales
1 min read 08 Aug 2023, 05:43 PM ISTCoal India Q1 Results: The net sales of the company grew marginally to ₹33,072.6 crore during the quarter under review from ₹32,497.9 during Q1FY23
PremiumCoal India Limited released its Q1 results on Tuesday and posted a 10% year-on-year decline in net profit which stood at ₹7,941 crore during the quarter ending June 2023 down from ₹8,834 crore reported during the corresponding quarter last year. The net sales of the company grew marginally to ₹33,072.6 crore during the quarter under review from ₹32,497.9 during Q1FY23. Sequentially, Coal India's net profit jumped 43% from ₹5527.6 crore during the quarter ending March 2023.
The other operating income of Coal India increased 12.1% to ₹2,910.5 crore from ₹2,594 crore during the corresponding quarter previous fiscal year. The production of raw coal jumped 9% year-on-year to 175.4 million tonnes during Q1 from 159.9 million tonnes during the same period last year. The off-take of raw coal increased to 186.9 million tonnes during the quarter from 177.4 million tonnes during Q1FY23.
The Earning Per Share (EPS) of the company declined from ₹14.33 in Q1FY23 to ₹12.93 during the period under review.
Raw Coal vs Washed Coal sales
Out of the total sale of ₹33,072.6 crore during the quarter, ₹31,757 crore came from the net sales of raw coal. The quantity of raw coal sold was 183.6 million tonnes and the average realization was ₹1,729.53 per tonne. The amount realized from the sale of 2.08 million tonnes of washed coal was ₹916.5 crore with average realization coming at ₹4,405.3 per tonne, the Coal India said.
Coal India has a market capitalization of ₹143,591.57 crore. The 52-week high for the stock is ₹263.3 and the 52-week low is ₹205.5. The stock had a BSE volume of 244,023 shares.
Coal India's share price shed 0.94% to end at ₹230.65 apiece on the BSE ahead of the announcement of Q1 results today.
