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CIL reported a 26.2% increase in consolidated net profit of ₹8,682.20 crore for the March quarter, attributed to increased shipments of dry fuel. According to a regulatory filing by Coal India Ltd (CIL), the company's consolidated net profit for the previous year was ₹6,875.07 crore.
In January-March, the company's consolidated income fell to ₹39,654.50 crore from ₹40,371.51 crore in the previous year. The company said in a statement that its profit after tax (PAT) increased by 25.8% on a consolidated basis to ₹8,640 crore during the fourth quarter of FY24.
In the previous fiscal year, the PAT was ₹6,869 crore for the same quarter. The company's PAT for the entire 2023-24 touched ₹37,369 crore, logging a 17.8% year-on-year growth.
CIL's PAT during FY23 was ₹31,723 crore. The company's board recommended a final dividend of ₹5 per share for the financial year ending March 2024, subject to the nod from shareholders at the ensuing company's annual general meeting. This was in addition to the interim dividend of ₹20.50 per share CIL had already paid earlier in the fiscal year. Thus, the total dividend for the fiscal year climbs to ₹25.50 per share, which is 255% of the face value of a single share.
During 2023-24, the state-owned mining behemoth contributed ₹60,140 crore to the government exchequer, both central and in the states where it operates. The company's coal supplies increased to 201.6 MT in the fourth quarter of FY24, up 8% compared to 186.9 MTs in the corresponding quarter in FY23. This contributed to the company's profitability.
CIL produced 241.75 million tonnes (MT) of coal in the fourth quarter of 2023-24, registering a growth of 7.8% over 224.16 MT produced during the same quarter in the previous fiscal. CIL accounts for over 80% of the country's domestic coal production.
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