Coal India Ltd (CIL), which finalised its accounts on Wednesday, breached the Rs.10,000-crore mark in profit reporting a net profit of Rs.10,867.35 crore for 2010-11 against Rs.9,622 crore in the year before, recording a rise of 12.92 per cent.
First full-year results
Net consolidated sales stood at Rs.50,233.59 crore against Rs.44,615.25 crore. This was the first full year of results following the listing of the public sector company on November 4, 2010. CIL was recently accorded the Maharatna status.
The company posted its results on the exchanges within an hour of the CIL board finalising the results of the seven coal producing subsidiaries and the consultancy outfit. Following the divestment, the government now holds 90 per cent equity in the company. During the year under review, production of raw coal hemmed in by various environmental embargoes, was flat at 431.32 million tonnes against 431.26 million tonnes in 2009-10. Offtake increased to 424.5 million tonnes from 415.88 million tonnes.
The company said in its notice that although some of the moratorium extended in view of the Comprehensive Environmental Pollution Index (CEPI) restrictions, in some cases it was extended upto September 30, 2011.
The company has recommended a final dividend of 40 paise per share on May 12 in addition to the interim dividend of Rs.3.50 per share.
