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Coal India Q1 profit almost triples to ₹8,833 crore

Higher sales spur profits

August 10, 2022 08:45 pm | Updated August 11, 2022 12:00 pm IST - New Delhi

PTI
Coal India Ltd. on Wednesday reported an almost threefold rise in consolidated net profit to ₹8,832.86 crore for quarter ended June on the back of higher sales. A file photo of a worker using an excavator to load coal onto a truck in the vicinity of the Deendayal Port Authority seaport at Kandla in India’s Gujarat state on May 18, 2022.

Coal India Ltd. on Wednesday reported an almost threefold rise in consolidated net profit to ₹8,832.86 crore for quarter ended June on the back of higher sales. A file photo of a worker using an excavator to load coal onto a truck in the vicinity of the Deendayal Port Authority seaport at Kandla in India’s Gujarat state on May 18, 2022. | Photo Credit: AFP

Shares of the company climbed 2.02% to ₹219.85 apiece on the BSE

Coal India Ltd. on Wednesday reported an almost threefold rise in consolidated net profit to ₹8,832.86 crore for quarter ended June on the back of higher sales.

The company had posted a net profit of ₹3,169.86 crore in the year-earlier period, Coal India Ltd. (CIL) said in a filing with the BSE.

Revenue from operations rose to ₹35,092.17 crore from ₹25,282.75 crore. Net sales in the first quarter rose to ₹32,497.9 crore from ₹23,293.65 crore earlier.

The company's output increased to 159.75 million tonne (mt) from 123.98 mt.

Coal India accounts for more than 80% of domestic coal output. The company is eyeing one billion tonnes in production by 2023-24.

Shares of the company climbed 2.02% to ₹219.85 apiece on the BSE.

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