Coal India Q2 results – Coal India Ltd reported a 13% increase in consolidated net profit for the quarter ended September 30, 2023, at Rs 6,814 crore, aided by robust power demand and increased output despite a bad monsoon. In the previous fiscal year, it reported a combined net profit of Rs 6,044 crore.
In Q2FY24, the coal giant increased its consolidated revenue from operations by 10% to Rs 32,776 crore. In Q2FY23, it recorded consolidated revenue from operations of Rs 29,838 crore.
The company also declared an interim dividend of Rs 15.25 per share.
“The Board of Directors declared the first interim dividend for the fiscal year 2023-24 at Rs 15.25 per share on the face value of Rs 10,” the company stated in a stock exchange filing.
Coal India Q2 results
The interim dividend will be paid on December 9th, with the record date set for November 21st.
Power consumption in India remained high in the reporting quarter due to abnormally dry weather and stronger economic activity, despite a decline in hydroelectric output, despite a drop in hydroelectric output, which generally peaks in May due to intense summer heat.
Coal India boosted non-coking coal prices by 8% for high grades in May, claiming an additional revenue of Rs 2,703 crore for the remainder of the fiscal year.