• Downside in revenue was largely on account of subdued performance from both mining and power business of the company. Mining sales was lower by 12% to Rs 451.96 crore (or 91% of total sales). But at EBIT level the fall is restricted to 10% (to Rs 224.66 crore) as the segment margin expanded by 130 bps to 49.7%. On the other hand the power segment revenue was down by 11% to Rs 44.49 crore but at EBIT level it was a loss of Rs 6.31 crore compared to a loss of Rs 12.81 crore in the corresponding previous period.

• Expansion in margin is largely due to lower mine closure expenses, lower P&F expenses and clean energy cess. Mince closure expenses as proportion to sales (net of stocks) was lower by 820 bps to 0.8%, the P&F cost was down 240 bps to 5.6% and clean energy cess was down by 110 bps to 3.5%. Over burden removal was up 390 bps to 19.2% and other expenses was up 250 bps to 10.4%. On the other hand the staff cost and royalty has seen just a marginal rise of 20 bps and 30 bps respectively. Though other cost heads has seen increase that is not good enough to offset the gain in mine closure expenses, P&F and clean energy cess leading to 480 bps expansion in OPM.

• Other income jumped by 44% to Rs 33.97 crore. The interest cost was nil compared to Rs 0.94 crore in the corresponding previous period. The depreciation was lower by 11% to Rs 28.35 crore. Thus the PBT was lower by 3% to Rs 229.70 crore. EO expenses for the quarter was Rs 0.02 crore (against nil in Q4FY12).

• The taxation was higher by 3% to Rs 80.40 crore and the tax incidence was also higher at 35% compared to 33% in corresponding previous period. Thus the PAT was eventually lower by 6% to Rs 149.28 crore.

Consolidated revenue for the quarter was down by 18% to Rs 442.56 crore and the net profit was down by 6% to Rs 149.28 crore.

Annual performance

Sales were higher by 3% to Rs 1674.68 crore. The operating profit was higher by 17% to Rs 885.97 crore facilitated by higher sales and 630 bps expansion in OPM. The other income was higher by 112% to Rs 155.48 crore, the interest cost was nil (Rs 7.45 crore in FY12) and the depreciation was higher by 8% to Rs 117.38 crore. Eventually the PBT was higher by 29% to Rs 924.07 crore. The tax was higher by 31% to Rs 302.85 crore and the net profit was eventually higher by 23% to Rs 600.84 crore.

Consolidated revenue for the fiscal was down by 3% to Rs 1674.68 crore and the net profit was down by 23% to Rs 600.84 crore.

To pay dividend at 150% (or Rs 3 per share of Rs 2 face value) for FY2012-13.

The stock hovers around Rs 137.50.