Coal India Ltd.'s first-quarter profit declined 10%, but surpassed analysts' estimates.
The government-owned coal producer's consolidated net profit fell 10% year-on-year to Rs 7,941.4 crore in the June quarter, according to an exchange filing on Tuesday. That compares with the Rs 7,546.5 crore consensus estimate of analysts tracked by Bloomberg.
Coal India Q1 FY24 Highlights (Consolidated, YoY)
Revenue up 2.5% at Rs 35,983 crore (Bloomberg estimate: Rs 35,148.1 crore).
Ebitda down 14% at Rs 10,513.9 crore (Bloomberg estimate: Rs 8,676.2 crore).
Ebitda margin at 29.2% versus 34.91% (Bloomberg estimate: 24.7%).
Operational Highlights (YoY)
Production of raw coal rose 10% to 175.48 million tonne.
Offtake of raw coal increased 5% to 186.95 million tonne.
Total average realisation fell to Rs 1,768.74 per tonne versus Rs 1,828.9 per tonne.
Raw coal realisation fell to Rs 1,729.53 per tonne versus Rs 1,789 per tonne.
E-auction realisation stood at Rs 3,740.84 crore
Shares of Coal India closed 1.16% lower at Rs 230.25 apiece before the results were announced, as compared with a 0.13% decline in the benchmark NSE Nifty 50.
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