Coal India Q1 Results: Net profit falls 10% to Rs 7,941 crore

Due to rising expenditures, the state-owned coal company Coal India Ltd (CIL) on Tuesday announced a 10.1% YoY fall in net profit at Rs 7,941.4 crore for the first quarter that ended June 30, 2023.

Coal India reported a net profit of Rs 8,834 crore for the comparable period last year, the company said in a regulatory filing. 

The total revenue for the quarter was Rs 35,983.2 crore, up 2.5% from Rs 35,092 crore during the same period of the previous year.

Operating-level EBITDA decreased by 14.5%, from Rs 12,251 crore in the same time last fiscal year to Rs 10,513.8 crore in the first quarter of the current one.

In the reporting quarter, the EBITDA margin was 29.2%, up from 4.9% in the same period of the prior fiscal year. 

From Rs 23,985.31 crore to Rs 26,785.68 crore, expenses increased by 11.67%. Leading coal producers and suppliers in India include Coal India, which is under the Ministry of Coal.

The results were announced after the market had closed.

Sources: Media Reports