Coal India Ltd Q4FY23 PAT down -17.3% yoy at Rs5,533 crore on sharp 60% spike in wage costs
Coal India reported 16.64% growth in total revenues for the March 2023 quarter on consolidated basis at Rs38,152cr. On a sequential basis, the revenues were up by 8.48%. In Q4FY23, Coal India sold 187.32 million tonnes of raw and washed coal an average price realization of Rs1,877/tonne. During the quarter, the total production of raw coal stood at 224.16 tonnes which is about 7% higher on a yoy basis.
Operating profits and net profits for the quarter were sharply lower, although the fall in net profits was lower due to a higher share of other income in the current quarter. The sharp fall in profits for the quarter can be attributed to the sharp spike in wage costs post the wage revision being effective. However, for the full year FY23, Coal India still reported 62% higher net profits at Rs28,125 crore.
Financial highlights for Mar-23 compared yoy and sequentially
| Coal India | |||||
Rs in Crore | Mar-23 | Mar-22 | YOY | Dec-22 | QOQ |
| Total Income (Rs cr) | ₹ 38,152 | ₹ 32,709 | 16.64% | ₹ 35,169 | 8.48% |
| Operating Profit (Rs cr) | ₹ 5,556 | ₹ 7,690 | -27.75% | ₹ 9,127 | -39.13% |
| Net Profit (Rs cr) | ₹ 5,533 | ₹ 6,693 | -17.33% | ₹ 7,756 | -28.65% |
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| Diluted EPS (Rs) | ₹ 8.98 | ₹ 10.86 |
| ₹ 12.58 |
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| OPM | 14.56% | 23.51% |
| 25.95% |
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| Net Margins | 14.50% | 20.46% |
| 22.05% |
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It may be recollected that Coal India has capped its coal prices in the last five years due to rising input costs. The company declared a final dividend of Rs4 per share taking the total dividend for the full year to Rs24.25 per share, implying a dividend yield of more than 10% overall. For FY23, the EBITDA was up 49% yoy at Rs40,291 crore.
