New Delhi: State-owned Coal India Ltd on Monday reported a 17.4 per cent decline in consolidated net profit at Rs 8,491.22 crore in the quarter ended December 2024, mainly due to lower sales.
The company had posted a profit of Rs 10,291.71 crore for the year-ago period, Coal India Ltd (CIL) said in a filing to BSE.
Sales during October-December FY25 dropped to Rs 32,358.98 crore from Rs 33,011.11 crore a year ago, the filing said.
Total expenses of the coal behemoth rose to Rs 26,201.55 crore during the latest third quarter from Rs 25,132.87 crore a year ago.
On a standalone basis, CIL’s profit during the reporting quarter rose to Rs 9,646.26 crore from Rs 9,316.40 crore in the corresponding period of previous fiscal.
The company’s sales during the latest December quarter increased to Rs 51.45 crore compared to Rs 34.99 crore in the year-ago period.
The board of directors of the company declared a second interim dividend of Rs 5.60 per equity share.
The coal output by the public sector enterprise increased to 543.36 million tonnes (MT) in the first nine months of the current fiscal compared to 531.89 MT produced a year ago.
CIL accounts for over 80 per cent of the domestic coal output.
Coal India Ltd has revised down its production target for the current fiscal to 806-810 million tonnes, against 838 million tonnes projected earlier.
CIL production grew 2.2 per cent to 543 million tonnes till December in the current fiscal. With an aim to ramp up production in the remaining days of the fiscal, efforts are on to achieve a growth of around 4-5 per cent, company’s Chairman PM Prasad had earlier said.
In FY24, CIL produced 773.65 million tonnes, registering an 11 per cent growth over FY23.
Stock of CIL closed at Rs 375.40, 2.04 per cent lower than previous close, on the BSE on Monday.
