Coal India share rose nearly 2% in trade today after the state-owned firm reported a marginal decline in its consolidated profit for the quarter ended March 2021. Share of Coal India gained 1.69% to Rs 162 against previous close of Rs 159.30 on BSE.
Market cap of the firm stood at Rs 97,463 crore on BSE. The share opened at Rs 161 on BSE.
The stock has lost 2.74% in the last 2 days. Coal India stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The share has risen 19% in one year and risen 16.79% since the beginning of this year. Total 9.25 lakh shares changed hands amounting to turnover of Rs 14.85 crore on BSE.
Coal India reported a profit of Rs 4,586.78 crore in Q4 on the back of lower sales. The coal behemoth posted a consolidated profit of Rs 4,637.95 crore in the corresponding period a year ago.
Consolidated sales in the January-March period fell to Rs 24,510.80 crore from Rs 25,597.43 crore in the March quarter of 2019-20. However, expenses during the January-March 2021 quarter dropped to Rs 21,565.15 crore from Rs 22,373.046 crore in the year-ago period.
Board of directors has recommended final dividend of Rs 3.50 per equity share of face value of Rs 10 each for the financial year 2020-21.
Production of CIL during the quarter dropped to 203.42 million tonnes (MT) over 213.71 MT in the corresponding quarter of 2020.
The company's offtake during the January-March period was at 164.89 MT, over 164.33 in the corresponding quarter of 2020. CIL accounts for over 80 per cent of domestic coal output. The company is eyeing one billion tonnes of output by 2023-24.
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