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Coal India Registers More Than Two-fold YoY Rise In Q2 Profit At Rs 6,044 Cr
Its consolidated revenue from operations also surged 28 per cent year-on-year (YoY) to Rs 29,839 crore compared to Rs 23,291 crore in the same quarter last year
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State-owned miner Coal India on Monday released its financial figures for the quarter ended September 2022 and reported more than two-fold rise in its consolidated net profit at Rs 6,044 crore compared to Rs 2,937 crore in the same quarter last year.
Sequentially, however, the profit was down 32 per cent as the miner had recorded a profit of Rs 8,834 crore in the first quarter of the fiscal.
Its consolidated revenue from operations also surged 28.11 per cent year-on-year (YoY) to Rs 29,839 crore compared to Rs 23,291 crore in the same quarter last year.
Sequentially, the revenue took a hit as monsoon rains affected dispatches and production.
Coal India's production of raw coal improved to 139.228 million tonnes from 125.839 million tonnes in the year-ago period.
The Board of Directors also announced the first interim dividend for FY23 at Rs 15 per share of the face value of Rs 10 each.
The company has fixed 16 November, 2022 as the record date for the purpose of payment of interim dividend which will be paid to the eligible shareholders by 6 December.
Shares of Coal India ended 1.40 per cent higher on Monday at Rs 249.55 apiece on the NSE.