Upside in revenue is largely on account of mining segment, which sells lignite in external market apart from captive consumption for its own power plant. Mining sales was higher by 10% to Rs 439.68 crore (or 86% of total sales). On the other hand the power segment revenue was lower by marginal 1% to Rs 73.41 crore.

On EBIT level too the upside is on account of mining business. The segment profit of mining was up by 8% to Rs 236.23 crore on the back of higher sales as its margin contract by marginal 80 bps to 53.7%. On the other hand the segment profit of power was lower by 28% to Rs 14.76 crore hurt by both lower sales as well as steep margin erosion.

Other income doubled to Rs 19.71 crore (up 100%) and interest cost was down 100% to nil. The depreciation was higher by 17% to Rs 29.52 crore. Thus the PBT was up by 11% to Rs 258.66 crore.

The taxation was higher by 9% to Rs 88.14 crore and the PAT was eventually higher by 11% to Rs 170.52 crore.

Annual performance

Sales was higher by 15% to Rs 1630.70 crore and the operating profit was higher by 16% to Rs 760.52 crore facilitated by higher sales and 60 bps expansion in OPM. The net profit was eventually higher by 30% to Rs 486.83 crore.

The stock hovers around Rs 187.