Net sales jumped 17.26% year on year to Rs 35,161.44 crore in the quarter ended 31 March 2023.

Profit before tax (PBT) in Q4 FY23 stood at Rs 7,642.27 crore, down 18.14% from Rs 9,335.27 crore reported in the same period last year.

The decline in the net profit and PBT was primarily due to increased provision towards the wages in NCWA-XI. PAT would have been the highest ever profit in any quarter had the provision not been made, said the company.

Consolidated coal production (raw coal) rose 7.25% to 224.160 million tonnes (MT) in Q4 FY23 as against 209.001 MT posted in Q4 FY22. Meanwhile, offtake (raw coal) increased by 3.68% to 186.877 MT in Q4 FY23 as compared to 180.249 reported in the corresponding quarter previous year.

The company recorded higher volume sale by 17.34 MT and better average realization under FSA resulted in a net impact of around Rs 3,879 crore in Q4 FY23. FSA sale increased to 167.45 MTs in Q4 FY23 compared to 150.11 MTs of preceding fiscal's Q4. Realization per tonne of coal under FSA category was Rs 1,550, an increase of 5%, compared to Rs 1,470 per tonne of Q4 FY22.

Though e-auction sales at 16.40 MTs were lower by 41% in volume terms in Q4 FY23 as against 27.65 MTs posted in the similar quarter of FY22, higher premiums under the e-window helped CIL in cranking up e-auction sales by Rs 690 crore. The realization per tonne of coal of was Rs 4,526 under auction segment in Q4FY23 from Rs 2,434 recorded in the same quarter a year ago. The jump was Rs 2,092 per tonne or 86%.

For FY23, coal India's consolidated net profit surged 62.26% to Rs 28,165.19 crore on 26.91% increase in net sales to Rs 1,27,627.47 crore in FY23 over FY22.

The state-run coal major's said that it witnessed growth in the profit despite provisioning of Rs 8,153 crore in the accounts in 2022- 23 towards wage revision of CIL's non-executive manpower. Climbing to an all-time high, the annual PAT bested the previous high of Rs 17,464 crore recorded in 2018-19 by 61%. Higher volume sales and increased premiums in e-auction bolstered the company's profitability, it added.

CIL lifted its profit into higher orbit despite the company capping its coal prices for over past five years amidst rising input costs, especially diesel and explosives and increased wage cost due to provisioning in the accounts, the firm stated in the press release.

Earnings before interest, tax, depreciation, amortization, impairment (EBITDA) climbed 49% to Rs 40,291 crores in FY23 from Rs 26,974 crore recorded in FY22.

During FY23, the realization per tonne of coal under e-auction was at Rs 4,841 as against Rs 1,879 per tonne in FY22, up 157.6%. The same in case of FSA sales was Rs 1,475 as compared to Rs 1,406 of FY22.

Meanwhile, the company's board has recommended a final dividend of Rs 4 per share for the financial year 2022-23.

Coal India is a coal mining company engaged in the production and sale of coal. As of 31 March 2023, the Government of India held 66.13% stake in the company.