Coal India's FY21 profit falls 24% to Rs 12,702 cr; declares dividend of Rs 3.50

Coal India on Monday reported about 24 per cent decline in its consolidated net profit for the financial year 2020-21 at Rs 12,702 crore. The company had reported a net profit of Rs 16,700 crore in the previous year. The public sector undertaking's sales also declined to Rs 82,710 crore in FY21 from Rs 89,373 crore in FY20.

For the January-March quarter, the company's net profit declined marginally to Rs 4,589 crore from Rs 4,626 crore in the corresponding quarter last year. Sales declined to Rs 24,511 crore in the quarter under review from Rs 25,597 in the March quarter of FY20.

Total income also fell to Rs 27,974 crore in January-March FY21 from Rs 29,821 crore a year ago.

Coal India's production declined to 203.42 million tonnes during the quarter from 213.71 million tonnes in the year-ago period, while offtake saw a marginal increase to 164.89 million tonnes from 164.33 million tonnes a year ago.

Coal India accounts for over 80 per cent of domestic coal output. The company is eyeing 1 billion tonnes of output by 2023-24. The company's board also declared a final dividend of Rs 3.50 per equity share.

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