Coal news and updates

CIL’s first quarter net profit up 8%

August 13: Coal India limited (CIL), India’s largest miner, reported an 8.09% increase in its net profit for the April-June quarter (or first quarter) of 2014-15 to Rs 4,033.28 crore against a net profit of Rs 3,731.00 crore reported for the same quarter of 2013-14, the company said in a filing to the BSE.

On a quarter-on-quarter basis, however, the company’s net profit dropped nearly 9% from Rs 4,434.18 crore recorded in the last quarter (fourth quarter) of 2013-14.

The net income of the company during the quarter increased 8.05% to Rs 17,799.54 crore as compared to Rs 16,472.42 crore reported in the same period of 2013-14.

During the quarter, the company’s coal production stood at 108.32 million tons (mt) up 5.28% from 102.89 mt produced in the same quarter of 2013-14 and down 24% from 143.22 mt produced in the preceding quarter (fourth quarter of 2013-14).

The company’s off-take during the quarter under review stood at 119.60 mt, up 3.68% from 115.36 mt in the corresponding quarter of 2013-14 and down almost 8% from 129.94 mt in the preceding quarter (fourth quarter of 2013-14).

The following table gives details of the financial results of CIL in Q1 of 2014-15 and 2013-14: