Consolidated profit for Coal India’s Q2 doubled to Rs 6,044 crore, while sales increased by 28%

Higher realisations and a slight increase in dispatches compared to previous year helped the result.

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On November 7, Coal India Limited announced a 106 percent increase in consolidated net profit for the quarter ended September 30, 2022, to Rs 6,044 crore, up from Rs 2,933 crore in the same quarter last year.

Sequentially, the earnings decreased 32% from Rs 8,834 crore between April and June.

The state-owned coal producer’s total revenue increased by 28% year over year, from Rs 23,291 crore in the prior quarter to Rs 29,838 crore. Sequentially, the revenue decreased from Rs 35,092 crore in the prior quarter by 15%.

Higher realisations and a slight increase in dispatches compared to previous year helped the result. The bottom line for the quarter increased due to the higher contribution from other income and deferred tax credit.

Due to delivery and manufacturing issues brought on by monsoon rains, income decreased sequentially.

On November 7th, Coal India shares closed 3.5 rupees higher at Rs 249.55 on the National Stock Exchange. Over the last year, the stock has returned 47%, and over the past month, it has increased by about 10%.