Latest News | Coal India Consolidated Q2 FY'23 Net Up 106 Pc

Kolkata, Nov 7 (PTI) Coal India Ltd on Monday reported a consolidated net profit of Rs 6,044 crore for the second quarter ended September 2022, a jump of 106 per cent over the corresponding quarter profit of Rs 2,932 crore registered last year.

The miner registered net sales of Rs 27,538 crore for the quarter under review, a rise of 29 per cent in the same quarter of the previous year's net revenue of Rs 21,292 crore.

Also Read | Electric Vehicles: 54% Indian Consumers Concerned About EV Quality, Not Range, Says Report.

Higher demand for coal due to global shortage has helped better auction realisations.

On a sequential basis, the net profit declined from Rs 8,834 crore in the previous June quarter (Q1 FY23).

Also Read | IAF Recruitment 2023: Registration Begins For Agniveervayu Posts at agnipathvayu.cdac.in, Here's How to Apply.

The total expense during the quarter was Rs 23,770 crore while it was Rs 20,424 crore in the corresponding quarter of FY22.

The dry fuel miner sold 10.36 million tonnes through e-auctions in the September quarter with an average realisation of Rs 6,061 per tonne. Regulated sales stood at 141.64 million tonnes.

The raw coal production during the second quarter improved to 139.22 million tonnes as compared to 125.83 million tonnes in the same period of last year.

Coal India board announced an interim dividend of Rs 15 per share.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)