Coal India on Thursday reported 21.4% year-on-year decline in net profit to ₹3,084.10 crore for the year ended on 31 December. The company posted a net profit of ₹3,921.81 crore for the corresponding quarter last year. The revenue during the December quarter increased to ₹23,686 crore against ₹23,190 crore in Q3FY20.
The company reported total comprehensive income of ₹2,273.18 crore during the quarter under review against ₹3,669.98 crore a year ago.
The world’s largest coal miner’s earnings before interest, tax, depreciation and amortisation rose 4% year-on-year to ₹5,164 crore during December quarter. The operating profit was ₹4,968.3 crore for the same period last year.
Coal India’s operating margin expanded 40 basis points to 21.8% in Q3FY21 from 21.4% in Q3FY20.
During the December quarter, Coal India reported total net sales of ₹20670.59 crore. The net sales from e-auction estimated at ₹3995.80 crore.
The consolidated production of coal recorded at 156.8 million tonnes during the December quarter. The consolidated offtake was at 153.9 million, the company said in the regulatory filing.
The board approved incorporation of two wholly owned subsidiaries — for solar value chain business vertical, and new and renewable energy.
“CIL Board in its Meeting held on date, accorded its approval for incorporation of two wholly owned subsidiaries of Coal India Limited, one for Solar value chain (lngot-wafercell- Module) business vertical and another for New and Renewable Energy subject to approval of GOI,” the miner said in the statement.