The state-owned Coal India Ltd (CIL) on Thursday reported a 26% rise in consolidated net profit at Rs 8,640.5 crore for the quarter ended March 31, 2024 (Q4FY24).

The CIL had reported a net profit of Rs 6,869.5 crore in the year-ago period.

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Furthermore, there was a rise in CIL’s bottom line despite its revenue from operations falling nearly 2% to Rs 37,410.4 crore in the quarter under review from Rs 38,152.3 crore in the same quarter last year.

The company’s consolidated sales also fell to Rs 39,654.4 crore in the January-March period from Rs 40,371.5 in the corresponding period of the previous fiscal year, marking a decrease of 1.8%.

The CIL said that the board has declared its third interim dividend for the financial year 2023-24 at Rs 5 per share. The dividend declared by this PSU stock in FY24 is Rs 24.50 ( Rs 4, Rs 15.25, and Rs 5.25). The Coal India share price finished on 31st March 2023 at Rs 213.65 apiece on the NSE.

PAT for the financial year 2023-24 stepped to Rs.37,369 crore logging 17.8% year-on-year growth, with Rs 5,646 crore increase in real terms. CIL’s PAT during FY 2022-23 stood at Rs 31,723 crore.

Clocking 19.4% growth, Profit Before Tax (PBT) during Q4 FY 2023-24 has risen to Rs 11,430 crore from Rs 9,569 crore of the same period in the previous fiscal. PBT for 2023-24 as well moved up to Rs 48,813 crore, registering 12.8% growth over Rs 43,275 crore in FY 2022-23. The increase in net terms was Rs 5,538 crore, the CIL said.

EBITDA, buoyed by the company’s positive operating performance, rose to Rs 51,793 crore, registering 8.5% growth against Rs 47,723 crore in the previous fiscal year.

During FY 2023-24, the state-owned coal mining behemoth contributed Rs 60,140 crore to the exchequer, both at the Centre and the states where it operates.

The company’s coal supplies shot up to 201.6 MTs in the Q4 FY 2023-24, up 8%, compared to 186.9 MTs in the corresponding quarter in FY 2023.

This gave the heft to the company’s profitability. The CIL produced 241.75 million tonnes (MTs) of coal in the fourth quarter of FY 2023-24 chalking up a robust 7.8% growth over a high base of 224.16 MTs during the same quarter of last fiscal.