Coal India Q3 Results: Profit Jumps 55% On Higher E-Auction Realisation, Lower Costs
Coal India's Q3 profit surged on higher e-auction realisation and lower power and employee expenses.
Coal India Ltd.’s third-quarter profit rose meeting estimates on higher e-auction realisation and lower power and employee expenses.
Net profit rose 55.2% sequentially to Rs 4,558.9 crore in the quarter ended December, the world’s largest coal miner said in an exchange filing. That compares with the Rs 4,336.8 -crore consensus estimate of analysts tracked by Bloomberg.
Coal India Q3 FY22 Highlights (QoQ)
Revenue rose 22.1% to Rs 28,433.5 crore against the estimated Rs 27,148.3 crore, driven by a jump in e-auction income.
Operating profit rose 73.1% to Rs 6,825.5 crore, primarily due to lower expenses and higher revenue. Analysts estimated Ebitda at Rs 6,398.3 crore.
Power expenses as a percent of revenue stood at 2.8% versus 3.3%.
Employee expenses as a percent shrunk to 38.2% from 44.8% earlier.
Margins at 24% against 16.9%. Analysts had estimated 23.5%.
Other Highlights (QoQ)
Raw coal sales realisation rose 2.6% to Rs 1,457.6 a tonne.
Total average realisation rose 3.4% to Rs 1,496.7 a tonne.
Fuel supply agreement realisation declined 0.9% to Rs 1,369.8 a tonne.
E-auction realisation rose 22.2% to Rs 1,947.2 a tonne.
Shares of Coal India ended 2.9% lower before the results were announced compared with a 3% decline in the benchmark Nifty 50.