Coal India registers 17% growth in annual profit, tepid income rise
National miner Coal India Limited (CIL) registered a 17.8 per cent rise in its annual profit during the financial year 2023-24, over the preceding year. Revenue from operations rose minimally by 3 per cent to Rs 1.38 trillion during FY24, while the net income was up by a similar quantum to Rs 1.5 trillion.
The company’s board also recommended a final dividend of Rs 5 per share for the financial year ended March 2024, subject to the nod from the shareholders at the ensuing company’s annual general meeting, said the company in a statement. “This was in addition to the interim dividend of Rs 20.50 per share CIL had already paid earlier in the fiscal. Thus, the total dividend for the fiscal climbs to Rs 25.50 per share, which is 255 per cent of the face value of a single share,” it said.
As coal supply caught pace during the fourth quarter of the last financial year, CIL said its profit during the period rose by 25 per cent over the corresponding period in FY22. It clocked a net profit of Rs 8,640 crore during Q4FY24.
CIL in a statement said, “The company’s earnings before interest, tax, depreciation, and amortisation (EBITDA), buoyed by positive operating performance, rose to Rs 51,793 crore, registering 8.5 per cent growth against Rs 47,723 crore of the previous fiscal year. During FY 2023-24, the state-owned coal mining behemoth contributed Rs 60,140 crore to the government exchequer, both central and the states where it operates.”
The company’s board also recommended a final dividend of Rs 5 per share for the financial year ended March 2024, subject to the nod from the shareholders at the ensuing company’s annual general meeting, said the company in a statement. “This was in addition to the interim dividend of Rs 20.50 per share CIL had already paid earlier in the fiscal. Thus, the total dividend for the fiscal climbs to Rs 25.50 per share, which is 255 per cent of the face value of a single share,” it said.
As coal supply caught pace during the fourth quarter of the last financial year, CIL said its profit during the period rose by 25 per cent over the corresponding period in FY22. It clocked a net profit of Rs 8,640 crore during Q4FY24.
CIL in a statement said, “The company’s earnings before interest, tax, depreciation, and amortisation (EBITDA), buoyed by positive operating performance, rose to Rs 51,793 crore, registering 8.5 per cent growth against Rs 47,723 crore of the previous fiscal year. During FY 2023-24, the state-owned coal mining behemoth contributed Rs 60,140 crore to the government exchequer, both central and the states where it operates.”
First Published: May 02 2024 | 8:05 PM IST