Coal India Q3 Results: Profit Falls On Lower Realisations From E-Auctions, Higher Operating Costs

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 percent year-on-year to Rs 3,923.9 crore in the quarter ended December, the world’s largest coal miner said in an exchange filing. That compares with the Rs 4,332.1-crore consensus estimate of analysts tracked by Bloomberg.

That’s because e-auction volumes of the world’s largest coal miner fell 33 percent over the previous year to 9.84 million tonnes, the filing said. Realisation from the online auctions fell nearly 8 percent over the previous year to Rs 2,623 per tonne.

The miner’s power and employee costs rose 7 percent each to Rs 647.9 crore and Rs 9,839.3 crore, respectively, it said in the filing.

• Revenue fell 7.4 percent on an annual basis to Rs 23,190.5 crore against the Rs 22,926.49-crore forecast.
• Operating profit fell 26.8 percent year-on-year to Rs 4.968.5 crore.
• Operating margin narrowed to 21.4 percent from 27.1 percent a year ago.

Shares of Coal India closed 0.28 percent higher compared with a 0.58 percent gain by the S&P BSE Sensex.