Coal India Q1 FY25 results: Net profit up 4.1% at Rs 10,959 crore

by Psu Connect
Date: 01-08-24
Ministry of Coal

The production of raw coal was up by 8 percent to 189.3 million tonnes (MT) in Q1, while offtake rose by 6 percent to 198.5 MT.

Coal India Q1 FY25 results: Net profit up 4.1% at Rs 10,959 crore

The Country’s largest PSU Coal India Limited (CIL) has reported a 4.1 percent year-on-year rise in consolidated net profits for the first quarter (April-June) of the financial year 2024-25 (FY25) at Rs 10,959 crore. Sequentially, the net profit of the company rose by 26.2 percent.

The revenue from operations rose marginally by 1.3 percent to Rs 36,464 crore during the quarter, as compared to the corresponding period of the previous year. The net income was up by just 2.2 percent to Rs 38,349.21 crore in Q1, up from Rs 37,521.03 crore in Q1 FY24.

The production of raw coal was up by 8 percent to 189.3 million tonnes (MT) in Q1, while offtake rose by 6 percent to 198.5 MT.

Overburden removal, or the layers of soil and stone removed before mining can take place, rose 5 per cent to 524.9 MT. Coal India and its subsidiaries accounted for 77.5 per cent of India's coal production of 997.25 MT in FY24, according to the Coal Ministry.

Five out of CIL's 7 subsidiaries, spread across the country, met their production targets in Q1. On the other hand, none of them met offtake targets. Odisha-based Mahanadi Coal Fields Limited (MCL) saw the highest growth in both production and offtake, which rose by 13 per cent and 8 per cent, respectively.

The public sector utility reported consolidated earnings before interest, taxes, depreciation, and amortization (Ebitda) of Rs 14,339 crore in the recent quarter, while margins stood at 39.3 percent.

Meanwhile, the total expenses during the quarter held steady, rising by a marginal 0.72 percent to Rs 24,287 crore. The largest component of CIL's expenditure, employee benefit expenses, fell by 4.7 percent to Rs 11,454.5 crore.