Coal India Q4 net vaults over 360% to Rs6,026 cr
03 June 2019
Coal India Ltd (CIL) has reported an over 360 per cent year-on-year increase in its net profit at Rs6.026 crore for the fiscal fourth quarter ended 31 March 2019, helped largely by a favourable base line.
CIL, the world’s largest coal miner, said its overall revenue for the January-March 2018-19 quarter increased by 7.5 per cent to Rs28,546 crore, on the back of a three per cent increase in sales volume.
CIL said its realisation from coal sales improved during the quarter due to lower outgo on account of employee benefit and improved operational cost control.
Shares of Coal India jumped over 4 per cent to Rs263.30 on Friday, buoyed by its strong performance during the March quarter of FY19.
Coal India also saw its total income cross Rs1 lakh crore for the first time since its inception 44 years ago. Total revenue for the year stood at Rs1,05,420 crore against Rs91,625 crore in the previous financial year. Gross sales for the year was Rs1,40,603 crore while net sales stood at Rs92,896.08 crore.