Coal India Q2 profit rises 106% to Rs 6,044 crore, net sales up 29%
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.
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).
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 .