Bharat Coking Coal Q3 Results: Coal India Arm Swings To Net Loss; Margin Narrows Sharply

Bharat Coking Coal Ltd.'s financial performance slumped in the first results since its listing in January this year. The company swung to a net loss of Rs 22.9 crore in the third quarter of FY26, from a profit of Rs 425 crore in the year-ago period. 

It listed on the exchanges with a blockbuster 96.57% premium to listing price on Jan. 19, 2026. 

Revenue from operations also declined 24.6% to Rs 2,783 crore from Rs 3,688 crore in the corresponding period of last year. Earnings before interest, taxes, depreciation and amortisation nosedived 94% from Rs 566 crore to Rs 33.7 crore in the quarter under review. 

Margin contracted sharply from 15.3% to 1.2%. 

BCCL Q3 Highlights (Consolidated, YoY)

• Net loss at Rs 22.9 crore versus profit of Rs 425 crore.
• Revenue falls 24.6% at Rs 2,783 crore versus Rs 3,688 crore.
• Ebitda declines 94% at Rs 33.7 crore versus Rs 566 crore.
• Margin At 1.2% versus 15.3%.

Net sales declined over 25% due to reduction in outside dispatch, lower E-Auction gains, and lower MoU price of washed coal. Cost of material consumed diminished over 10% primarily due to reduction in departmental coal and OB production.

On the other hand, employee benefits expense rose over 6% to Rs 1,533.47 crore from Rs 1,443.47 crore. "The increase is primarily due to the actarial credit of 65.93 crores in the current year as against the credit of 231.06 crores during the same period last year," BCCL's press release stated. 

BCCL Share Price

BCCL's stock ended 0.16% higher at Rs 38.73 apiece on the BSE on Tuesday. This compares to a 2.54% advance in the Sensex index. 

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