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Coal India announced Q3FY23 results:
- Consolidated Q3FY23:
- Profit after tax (PAT) of Rs 22,597 crore, in the nine months till 9MFY23. The sheer scale of profit eclipsed the highest PAT that the company previously achieved for an entire financial year, which was Rs 17,464 crore in 2019.
- CIL’s PAT during 9FY23 zoomed up by a strong YoY growth of 112% against Rs 10,663 crore for the comparable period of FY22.
- The company’s board gave its nod for the payment of second interim dividend of Rs 5.25 per share. Earlier 1st interim dividend of Rs 15 was already declared.
- CIL’s post tax profit during Q3 of the ongoing fiscal rose sharply to Rs 7,719 crore clocking a robust 69% growth. This is also a historic high for this period in any year till now. For the comparable quarter of FY22 CIL’s PAT was Rs 4,557 crore.
- The steep rise in profit came on the back of higher add-on over the notified price in eauction sale of 14.65 million tonnes (MTs) coal during Q3FY23.
- Though auction volumes were lower by 44% in current fiscal’s Q3, compared to 26 MTs of similar quarter FY’22, higher premiums under the e-window helped CIL in cranking up sales by Rs 2,341 crore. The realization per tonne of coal of was Rs 5,046 under auction segment, in Q3 against Rs 1,947 per tonne for comparable quarter in FY22. The jump was Rs 3,099 per tonne or 159%.
- Volume sale of 158 MTs and better average realization under FSA resulted in a net impact of around Rs 3,580 crore. FSA sale increased by 13.2 MTs in Q3FY23 compared to 144.6 MTs of the previous fiscal’s Q3. Realization per tonne of coal under FSA category was Rs 1,482 in Q3FY23 an increase of 8.2% compared to Rs 1,370 per tonne of Q3FY22.
- The company’s net sales was up 25% YoY to Rs 32,429 crores compared to Rs 25,991 crores of third quarter of previous FY. Earnings before interest, tax, depreciation, amelioration (EBITDA) - the measure of a company’s financial performance – has risen by 91% for the nine month period to Rs 31,998 crores from Rs16,769 crores of same period in FY22.
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