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Coal India’s net profit falls 20.25% in Q3

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  13 Feb 2017 12:00 AM GMT

Kolkata, Feb 12 : Coal India Ltd (CIL) on Saturday reported a 20.25 percent fall in consolidated net profit to Rs 2,884.47 crore in the quarter ended December 31, 2016 against Rs 3,617.18 crore in the corresponding quarter last year.

Its net sales for the quarter stood at Rs 19,704.45 crore, up 3.8 percent from Rs 18,971.48 in the year-ago period.

The miner produced 147.73 million tonnes (mt) of coal in October-December quarter of the current fiscal, as against 143.96 crore in the year-ago period.

CIL’s off-take stood at 142.67 mt in the quarter ended December 2016, as compared to 137.89 mt in the same period last fincial year, it said in a BSE filing. During October to December period, the miner sold 138.03 mt of raw coal including e-auction (25.19 mt) and fuel-supply agreement (112.85) route and its net sales stood at Rs 18,483 crore in the period. The average realisation per tonne of raw coal, during the period, was at Rs 1,339 crore.

The coal behemoth said its average realisation in e-auction during the quarter was at Rs 1,564 per tonnes of raw coal while in fuel supply agreement route, the same clocked at Rs 1,289 crore per tonne. In 2015-16, the miner produced 536.51 million tonnes of coal against a target of 550 million tonnes and its off-take stood at 532.26 million tonnes. It further said it would invest Rs 7,765 crore as capital expenditure and Rs 5,069 crore in various other projects in 2016-17. The company envisaged production of 908.10 million tonnes in 2019-20 with a CAGR (Compound Annual Growth Rate) of 12.98 per cent with respect to 2014-15. During 2016-17, the coal production target has been pegged at 598.61 million tonnes with an annualised growth of about 11.6 per cent. In 2017-18, coal production is expected to be 660.7 million tonnes with a growth of about 10.5 per cent. (IANS)

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