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Hot Pursuit
01-Mar-24
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Coal India jumps after coal production rises 8% YoY to 74.8 MT
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Coal India added 2.19% to Rs 447.30 after the company’s coal production increased 8.7% to 74.8 million tonnes (MT) during the period as compared with 68.8 MT produced in same period last year.
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In terms of coal offtake, CIL reported a notable 12% jump in volumes, reaching 65.3 MT for February 2024 compared to 58.3 MT in February 2024.
For the period from April 2023 to February 2024, the company’s total coal production and total coal offtake aggregates to 685.1 MT (up 10.5% YoY) and 684.7 MT (up 8.6% YoY), respectively.
Coal India is a coal mining company engaged in the production and sale of coal. As of 31 December 2023, the Government of India held 66.13% stake in the company.
The company’s consolidated net profit jumped 17.80% to Rs 9,093.69 crore on 2.79% increase in revenue from operations to Rs 36,153.97 crore in Q3 FY24 over Q3 FY23.
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