A worker uses a wire mesh to filter charcoal at a coal wholesale market in India. (Photographer: Dhiraj Singh/Bloomberg)

Q3 Results: Coal India’s Profit Beats Estimates On Higher Margin

Coal India Ltd.’s quarterly profit beat estimates on higher margin.

Net profit rose 50.1 percent year-on-year to Rs 4,567 crore in the quarter ended December, the world’s largest coal miner said in its exchange filing. That compares with the Rs 3,845-crore consensus estimate of analysts tracked by Bloomberg.

The company’s revenue rose 15.4 percent on a yearly basis to Rs 25,045 crore in the October-December period, higher than the Rs 23,827 crore estimate.

Earnings before interest, tax, depreciation and amortisation rose 55 percent to Rs 6,788 crore, while the operating margin expanded 690 basis points to 27.1 percent.

Its coal production grew 7.4 percent from a year earlier to 412.50 million tonnes in the April-December period. The company had earlier reported that its shipment fell for the first time in two years in December because of operational issues at its largest subsidiary. Shipments of the state-run miner dropped 1.3 percent on a yearly basis—the first time since October 2016—to 52.8 million tonnes, it had said in a filing in December.

Other Highlights

  • Fuel supply agreement realisation at Rs 1,334 per tonne.
  • E-auction realisation at Rs 2,847 per tonne.
  • E-auction volumes at 14.65 million tonnes.

Shares of Coal India closed 1.92 percent higher on the BSE ahead of the earnings announcement. That compares with a 0.66 percent drop in the benchmark S&P BSE Sensex.