Updated May 3rd, 2024 at 12:57 IST

Coal India shares surge over 4% after Q4 profit jump despite revenue dip

Coal India reported a 26.2% rise in consolidated net profit to Rs 8,682.20 crore.

Reported by: Business Desk
Coal India | Image:Shutterstock
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Coal India shares: The shares of state-owned Coal India Ltd (CIL) surged 4.17 per cent to an intraday high of Rs 472.80 apiece on the National Stock Exchange on Friday. This comes after the coal giant reported a significant increase in net profit for the March quarter (Q4) of FY24. Coal India reported a 26.2 per cent rise in consolidated net profit to Rs 8,682.20 crore.

CIL reported a 26.2 per cent year-on-year increase in consolidated net profit for Q4, reaching Rs 8,682.20 crore. This growth is attributed to higher coal supplies and cost-saving measures. However, the company's revenue from operations for the same period dipped by 1.8 per cent to Rs 39,654.50 crore compared to the previous year.

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Key Highlights from Coal India Q4 Results

  • Net profit rose 26 per cent to Rs 8,640.5 crore.
  • Revenue from operations dipped 2 per cent.
  • Coal supplies increased by 8 per cent.
  • Coal production grew by 7.8 per cent.
  • Dividend of Rs 5 per share declared, along with an interim dividend already paid, bringing the total payout to Rs 25.50 per share (255 per cent of face value).
  • EBITDA rose 21.5 per cent to Rs 11,337.6 crore.
  • Net profit for FY24 reached Rs 37,369 crore, reflecting a 17.8 per cent YoY growth.
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Published May 3rd, 2024 at 12:57 IST