Synopsis
Coal India has reported a net profit of Rs 8,491.22 crore for Q2 of FY 2024, a decline of 17.5% from the previous year. The company declared a second interim dividend of Rs 5.6 per share, with payment scheduled by February 26, 2025.Key Takeaways
- Net profit of Rs 8,491.22 crore for Q2 FY 2024.
- Profit fell by 17.5% year-over-year.
- Second interim dividend declared at Rs 5.6 per share.
- Record date for dividend is January 31, 2025.
- Coal production increased by 5.33% in December 2024.
New Delhi, Jan 27 (NationPress) Coal India has announced a net profit of Rs 8,491.22 crore for the October-December quarter of the current financial year.
The profit represents a decrease of 17.5 percent compared to Rs 10,291.71 crore from the same quarter last year.
The company has approved a second interim dividend of Rs 5.6 per equity share on a face value of Rs 10, as recommended by CIL's Audit Committee, according to an exchange filing.
Coal India has set January 31, 2025 as the record date for the second interim dividend declaration for this financial year, with payments scheduled by February 26, 2025.
In the previous quarter ending September 30, 2024, Coal India reported a consolidated net profit of Rs 6,289 crore, marking a 22 percent decline from Rs 8,049 crore in the same period the previous year. The company had declared a dividend of Rs 15.75 per share during that quarter.
Coal India Limited (CIL) has celebrated its 50th anniversary, achieving an impressive 8.7-fold growth in production from 89 million tonnes (MT) in 1975-76 to an extraordinary 773.6 MT in FY 2024.
With 80 percent of its total supplies directed toward coal-based power plants at competitive rates, CIL is crucial in maintaining low power prices.
Despite a significant reduction in employee count from 6.75 lakh to 2.25 lakh since nationalisation, production levels have surged.
Furthermore, India’s overall coal production, led by Coal India, experienced a growth rate of 5.33 percent in December 2024, reaching 97.94 MT compared to 92.98 MT in the same month last year.
