Coal India, the world's largest coal producer, reported a mixed bag of results for the fourth quarter of FY23-24.
On the positive side, net profit rose 26% to Rs 8,640.5 crore compared to Rs 6,869.5 crore in the corresponding quarter of the previous year. This increase can be attributed to cost efficiency measures and changes in accounting for stripping activities in open-cast mining.
Coal production and supply also saw an uptick. Coal supplies increased by 8% to 201.6 MT, while production grew by 7.8% to 241.75 MT in Q4 FY23-24 compared to the same period in the previous fiscal.
However, revenue from operations witnessed a decline of 2% to Rs 37,410.4 crore compared to Rs 38,152.3 crore in the year-ago period.
Overall, Coal India's Q4 FY23-24 results indicate an improvement in profitability despite a dip in revenue. The company's increased focus on cost management and operational efficiency seems to be paying off.
News Must Read
- Petroleum Minister Hardeep S Puri Highlights India’s Bioenergy Progress
- NBCC bags orders worth Rs. 182.50 Crore
- OMCs increases price of 19 kg commercial LPG cylinder by Rs 39
- HUDCO Issues Record Date For Dividend, Shares Rise 118% YTD
- NTPC Bongaigaon to Support TB Eradication Efforts; Partners with District Administration, Kokrajhar
- Solar Energy Corporation of India Ltd (SECI) attains Navratna Status
- Dr D K Sunil Takes Over as CMD (Additional Charge) of HAL
- DVC bags Champions Trophy for Corporate Sustainability at XLRI, Jamshedpur
- Minister Pralhad Joshi Visits IREDA Office, Reviews Company’s Strategic Growth Plan
- HAL Selects SAFHAL Helicopter Engines to Develop and Produce ‘Aravalli’ Engines