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CIL Profit in Q4 Dips 14% YoY

Coal News - Published on Wed, 12 Feb 2020

Image Source: CIL Coal
India’s state owned Coal India Ltd’s quarterly profit fell on the back of lower realisations from online auctions and higher operating expenses. Net profit fell 14.1% YoY to INR 3,923.9 crore in the quarter ended December 2019. That was because e-auction volumes of the world’s largest coal miner fell 33% over the previous year to 9.84 million tonnes and realisation from the online auctions fell nearly 8% over the previous year to INR 2,623 per tonne. Revenue fell 7.4% on an annual basis to INR 23,190.5 crore, operating profit fell 26.8% YoY to INR 4,968.5 crore and operating margin narrowed to 21.4% from 27.1% a year ago.

An official said “Coal production this year will exceed that of last year, though there was some impact due to rains, by the end of the current fiscal it will be covered up. So we will be exceeding the last year production numbers with a healthy surplus. There has been a setback because one of the largest mines and the largest mine in Asia Deepika that has been flooded. So that has impacted the production. But the coal scenario is very healthy in the country. Stocks at the power plants and mines are much higher than the same period last year.”

In 2018-19, Coal India produced 606.89 million tonnes while dispatch was 608.14 million tonnes.

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Posted By : Yogender Pancholi on Wed, 12 Feb 2020
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