Coal India PAT soars 18% in Q3 FY 2024, hits record high
Coal India Limited (CIL), the state-owned coal mining corporate, has reported a significant 18% year-on-year increase in its consolidated profit after tax (PAT) for the third quarter ending December 2023, of the fiscal year 2024. The PAT rose to an all-time high of Rs. 9,094 Crores, up from Rs. 7,719 Crores in the corresponding quarter of the previous year, marking the highest PAT earnings for a third quarter since the company’s listing.
Key Financial Highlights of Coal India’s Q3 FY 2024 Performance
- Profit After Tax (PAT): Coal India’s PAT saw a sharp increase to Rs. 9,094 Crores, indicating an 18% growth year-on-year.
- Revenue from Operations: The company’s revenue from operations rose to Rs. 36,154 Crores, a 3% increase over the previous fiscal’s corresponding period.
- Interim Dividend: CIL’s board approved a second interim dividend of Rs. 5.25 per share, leading to a total interim dividend of Rs. 20.50 per share for FY 2024.
- Profit Before Tax (PBT): PBT surged to Rs. 12,375 Crores, marking a 17% increase year-on-year.
- Coal Output and Supplies: The company reported an 11% year-on-year growth in coal output, reaching 199 MT, and a 9% increase in coal supplies.
Coal India’s Operational Excellence Fuels Record PAT and Revenue Growth in Q3 FY 2024
The board also approved the appointment of Mukesh Agrawal as the Chief Finance Officer (CFO) of Coal India, effective from February 13, 2024. Underlining the company’s operational excellence, CIL’s coal output and supplies have demonstrated significant growth, contributing to the overall financial performance.
Coal India’s market capitalization stood at Rs. 2,31,719 Crores by the end of December 2023.
The company’s EBITDA (earnings before interest, tax, depreciation, and amortization) also saw an uptick, further solidifying its financial stability and growth trajectory.
Coal India’s financial performance in Q3 FY 2024 reflects the company’s robust operational efficiency and market position. The substantial growth in PAT, coupled with consistent operational achievements, underscores Coal India’s ability to navigate the challenges of the energy sector while maximizing shareholder value.