Coal India Q4 net up 35 percent to Rs.5,413.91 crore

Kolkata : Public sector Coal India Limited (CIL), the world’s largest miner of coal, Monday announced a 34.89 percent jump in consolidated net profit to Rs.5,413.91 crore for the quarter ended March 31, 2013, from Rs.4,013.41 crore for the corresponding period in the previous financial year.

The firm’s total Income for the fourth quarter of 2012-13 fiscal has increased to Rs.22,111.07 crore from Rs.21,724.99 crore for the like period in the previous fiscal.

For the full year, the state-run miner’s net profit stood at Rs.17,356.36 crore for last fiscal compared to Rs.14,788.20 crore for previous fiscal, recording a 17.37 percent year-on-year growth.

“The increase in profit after tax is mainly due to volume growth,” Coal India chairman S. Narsing Rao said here after announcing the results.

The company supplied 465.18 million tonnes (MT) of coal to its consumers during 2012-13, registering a year-on-year growth of 7.41 percent.

CIL’s coal production also witnessed a 3.76 percent growth to 452.21 MT for the financial year 2012-13 from 435.84 MT in 2011-12.

According to Rao, average realisation from e-auction had, however, been slightly lower during the period under review compared to previous year because of slightly lower volumes.

He said coal supplies to power utilities during 2012-13 grew by 10.7 percent over 312.07 mts achieved in 2011-12.

The coal behemoth, which began the fiscal with a pithead stock of 70.88 mts, was able to liquidate 12.97 mts stock. The ground stock as of April 1, 2013 stood at 57.91 mts.