Coal India share price falls over 4% post weak Q4 earnings

Coal India share price dropped almost 5% intraday in Monday's early session after the company posted weak earnings for the quarter ended March 2020, on back of higher costs and lower revenue.

Coal India reported 23.24% fall in consolidated net profit at Rs 4,625.76 crore for the quarter ended March 31 against Rs 6,026.47 crore in the corresponding quarter last year.

Company's revenue fell 3.6% YoY at Rs 27,568.3 crore against Rs 28,585 crore.

Following the earnings update, shares of Coal India dropped 4.68% to the intraday low of Rs 135.3 against the previous close of Rs 141.95 on BSE. Earlier, the stock opened at Rs 141.05 and touched the day's high at Rs 141.65.

Coal India share price is trading lower than 5, 20, 50, 100 and 200-day moving averages. The stock has declined 5.26% in one week, 3.5% in one year and 35% year-to-date.

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Coal India's sales volume for the quarter was flat at 163.9 million tonne though production was up 10% YoY to 213.7mn tonne. The company, however, added in its regulatory filing that Covid-19 pandemic had no significant impact on earnings or carrying value of its assets.

EBITDA for the quarter stood at Rs 6,729 crore down 18.3% YoY while EBIDTA margins contracted by 442 basis points to 24.4%.

For the financial year FY20, consolidated net profit fell 4.3% YoY to Rs 16,714.19 crore in the year ended March 2020, while its revenue from operations recorded a 3.5% YoY decline to Rs 96,080.34 crore.

On 4QFY20 results of Coal India, Jyoti Roy, DVP Equity Strategist, Angel Broking said," While top-line numbers were in line with street estimates, net profit came in below street estimates largely on account of lower margins."

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