Coal India’s Q4 Up by 26.2 pc to Rs 8,682; PSU Announces Dividend – Check Details (image source: Coal India)
Coal India Ltd (CIL) has announced its consolidated financial results for the fourth quarter of the fiscal year 2023-24, PSU reported a surge in profits driven by heightened coal supplies. Despite a slight decline in income, the company’s consolidated net profit rised.
Consolidated Net Profit Surges
In the March quarter, CIL reported a 26.2 per cent increase in consolidated net profit, reaching Rs 8,682.20 crore compared to Rs 6,875.07 crore in the corresponding period of the previous fiscal year. This substantial growth underscores the efficacy of its strategies in optimizing coal production and distribution.
Revenue Performance
While the consolidated income for the January-March period decreased marginally to Rs 39,654.50 crore from Rs 40,371.51 crore a year ago, the company’s focus on enhancing operational efficiency mitigated the impact of this decline on its overall profitability.
Profit After Tax (PAT)
CIL’s profit after tax (PAT) on a consolidated basis exhibited a robust growth of 25.8 per cent, amounting to Rs 8,640 crore in the fourth quarter of FY24. This marked an improvement from the PAT of Rs 6,869 crore recorded in the corresponding quarter of the previous fiscal year.
Annual Performance
For the entire financial year 2023-24, CIL’s PAT surged to Rs 37,369 crore, representing a commendable 17.8 per cent year-on-year growth. This performance reflects the company’s sustained efforts in optimizing its operations and capitalizing on market opportunities.
Coal India Dividend Announcement
In line with its commitment to shareholder value enhancement, CIL’s board recommended a final dividend of Rs 5 per share for the financial year ending March 2024. This proposed dividend, subject to shareholder approval at the forthcoming annual general meeting, supplements the interim dividend of Rs 20.50 per share already paid earlier in the fiscal. Consequently, the total dividend for the fiscal year amounts to Rs 25.50 per share, equivalent to 255 per cent of the face value of a single share.
During the fiscal year 2023-24, CIL continued its significant contribution to the government exchequer, with a total contribution of Rs 60,140 crore to both central and state governments where it operates.
CIL’s operational performance during the fourth quarter of FY24 showcased notable achievements. The company’s coal supplies surged to 201.6 million tonnes (MT), marking an impressive 8 per cent increase compared to the corresponding quarter in FY23. This uptick in coal supplies significantly bolstered the company’s profitability.
Moreover, CIL’s coal production witnessed a robust growth of 7.8 per cent, reaching 241.75 million tonnes (MT) in the fourth quarter of 2023-24, compared to 224.16 MT produced during the same quarter in the previous fiscal year. This underscores the company’s pivotal role in meeting the country’s coal demand, with CIL accounting for over 80 per cent of the domestic coal production.
