Coal India Ltd. today reported a 21.4% year-on-year decline in net profit to ₹3,084.10 crore for the year ended on 31 December and the revenue during the December quarter increased to ₹23,686 crore.
In the corresponding quarter in FY20 the company posted a net profit of ₹3,921.81 crore for the corresponding quarter in FY20 and the revenue was ₹23,190 crore.
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 (EBITDA) 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.
Company’s operating margin rose 40 basis points to 21.8% in Q3FY21 from 21.4% in Q3FY20.
During the 3rd quarter, Coal India reported total net sales of ₹20670.59 crore from which the net sales from e-auction estimated at ₹3995.80 crore.
The combined production of coal recorded at 156.8 million tonnes during the December quarter. The offtake in the quarter rose nearly 9 per cent on-year to 153.85 million tonnes, the company said in the regulatory filing.
The board approved the 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 the approval of GOI,” the miner said in the statement.