Coal India posts lower net on consolidated basis at Rs 7,971cr

CHENNAI: Coal mining major Coal India Ltd on Tuesday said it had posted a lower net profit of Rs 7,971.04 crore on consolidated basis for the first quarter of FY24.

In a regulatory filing, Coal India said during the Q1FY24 it had logged an operational revenue of Rs 35,983.21 crore (Q1FY23 Rs 35,092.17 crore) and a net profit of Rs 7,971.04 crore (Rs 8,832.86 crore).

During the quarter under review, the company produced 175.476 million tonne (159.753 million tonne) and sold 186.950 million tonne (177.490 million tonne). Boosted by other income, Coal India’s standalone net profit shot up to Rs 918.02 crore.

During the Q1FY24, Coal India had logged a standalone operational revenue of Rs 335.75 crore (Q1FY23 Rs 320.50 crore) and a net profit of Rs 918.02 crore (Rs 160.98 crore).

The net profit got a being ‘calorific’ boost with other income of Rs 804.75 crore (Rs 3,673 crore) that includes a sum of Rs 757.13 crore dividend from other subsidiaries.