Coal India Q4 Results: Net profit grows by over one-fourth, exceeds analysts’ expectations; PSU declares dividend
Coal India Q4 Results: State-run mining giant Coal India Ltd (CIL) reported a consolidated net profit of Rs 8,682.2 crore for the January-March period, up 26.3 per cent on a year-on-year basis and better than analysts’ expectations. Higher supplies of coal boosted the company’s profitability in the fourth and final quarter of the financial year 2023-24.
The PSU registered quarterly revenue of Rs 37,410.4 crore, marking a decline of 1.9 per cent, according to a regulatory filing.
According to Zee Business research, CIL’s fourth-quarter net profit was estimated at Rs 7,217 crore and revenue at Rs 36,330 crore.
Coal India’s coal supplies increased 7.9 per cent to 201.6 MTs in the fiscal fourth quarter, according to a statement.
For the full financial year, the company’s revenue came in at Rs 1,42,324 crore, as against Rs 1,38,252 crore for the previous year.
The PSU’s board recommended a final dividend of Rs 5 per share for the financial year ended March 31, subject to shareholders’ approval at the company’s ensuing annual general meeting (AGM).
The dividend was in addition to an interim dividend of Rs.20.5 per share earlier, taking the total payout of the financial year to Rs.25.5 per share.
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