Coal India Limited reports 25.8% jump in Q4 FY 2023-24 PAT at Rs 8,640cr

Coal India Limited (CIL), the state-owned coal mining giant, has announced a substantial 25.8% growth in profit after tax (PAT) for the fourth quarter of FY 2023-24, reaching ₹8,640 crores compared to ₹6,869 crores in the corresponding quarter of the previous fiscal year. For the entire financial year, CIL reported a PAT of ₹37,369 crores, marking a 17.8% year-on-year increase.

Profit Before Tax and Revenue Growth

The company’s Profit Before Tax (PBT) for the fourth quarter rose by 19.4%, totaling ₹11,430 crores, up from ₹9,569 crores in the same period last year. The annual PBT also saw a significant increase, up 12.8% to ₹48,813 crores. This financial strength was further bolstered by a revenue from operations which surged to ₹1,42,324 crores, showing a 3% growth over the previous fiscal year’s ₹1,38,252 crores.

Coal India Limited achieved a significant increase in profits and operational efficiency in FY 2023-24, reflecting its strategic growth and robust market position.

Operational Highlights and Dividend Announcement

CIL’s coal production volumes reached 241.75 million tonnes (MTs) in the fourth quarter, a 7.8% increase from the previous year, reflecting the company’s operational efficiency and robust supply chain management. The board of CIL has recommended a final dividend of ₹5 per share for FY 2023-24, taking the total dividend for the year to ₹25.50 per share, which is 255% of the face value of a single share.

Contributions to the Government and EBITDA Growth

The company contributed ₹60,140 crores to the government exchequer during FY 2023-24. Additionally, CIL’s EBITDA for the fiscal year grew by 8.5% to ₹51,793 crores, from ₹47,723 crores in the previous fiscal, reflecting positive operational performance and effective cost management.

Future Outlook

Coal India Limited’s financial and operational performance in FY 2023-24 demonstrates a strong growth trajectory and solidifies its position as a pivotal player in the coal sector. With increased coal supplies and strategic management, CIL is well-positioned to continue its growth momentum, supporting both energy needs and economic development in India.