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Coal India's consolidated net profit jumps 148% in FY19; revenue rises 15%

BusinessToday.In     May 30, 2019

State-owned Coal India Limited (CIL) concluded financial year 2018-19 with a whopping 148 per cent growth in consolidated net profit at Rs 17,462.18 crore. The country's largest coal mining company had posted consolidated net profit of Rs 7,038.44 crore in the financial year 2017-18.

"Consolidated total revenue of the company increased to Rs 1,05,420.62 crore from Rs 91,625.25 crore reported during the last fiscal, registering a growth of 15 per cent," CIL said in a filing to the Bombay Stock Exchange.

For the financial year 2018-19, the coal production stood at 606.89 million tonnes versus 567.37 million tonnes in the previous year. Raw coal off-take rose to 608.14 million tonnes versus 580.29 million tonnes during the fiscal ended March 31, 2019.

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During January-March quarter, consolidated net profit jumped over four-fold to Rs 6,024.2 crore as against Rs 1,302.6 crore in the year-ago period, helped by higher sales and lower expenses. Consolidated sales of the coal miner rose 7.9 per cent year-on-year to Rs 26,704.2 crore.

Total expenses declined to Rs 21,473.1 crore during Q4FY19 over Rs 27,396.5 crore in Q4FY18.

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Coal India shares closed 0.76 per cent higher at Rs 252.90 apiece on the Bombay Stock Exchange on Thursday.

Edited by Chitranjan Kumar

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