Coal news and updates

Coal India net profit rises 47 per cent

State-owned Coal India on Monday reported a 47.7 per cent rise in consolidated net profit at Rs 4,558.39 crore for the quarter ended  December 31, 2021 on the back of higher revenue from operations.

The PSU's consolidated net profit was at Rs 3,085.39 crore in the year-ago period. Consolidated revenue from operations during October-December period increased to Rs 28,433.50 crore from Rs 23,686.03 crore in the year-ago period.

Consolidated expenses during the period increased to Rs 22,780.95 crore from Rs 19,592.57 crore in the corresponding quarter of the previous fiscal.

The production of raw coal during the period increased to 163.82 million tonnes (mt)  from 156.78mt a year ago. The offtake of raw coal also increased to 173.77 mt during the quarter from 154.46 mt in the year-ago period.