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State-owned Coal India Ltd on Wednesday reported 179% jump in consolidated net profit (attributable to owners of the company) at Rs 8,833 crore for the quarter ending June 30, 2022. It reported consolidated net profit of Rs 3,169 crore in the year-ago period.
The company’s consolidated revenue from operations rose 39% to Rs 35,092 crore in Q1FY23 as compared to Rs 25,282 crore in the year-ago period.
On Wednesday, the company’s scrip on BSE closed 2% higher at Rs 219.85.
The miner was able to fetch Rs 4,340 per tonne from e-auction coal. Coal India sold nearly 21 million tonne through e-auction during the April-June 2022 quarter.
Coal India was successful in retaining total expenses at Rs 23,985 crore amid higher production and despatches during the quarter versus Rs 21,626 crore in the year-ago period.
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