Coal India Share Price 📈💰
Coal India Limited, a government-owned coal mining company, has announced its financial results for the third quarter of the current fiscal year. The consolidated net profit of the company increased by 17.8% in the October-December quarter. The company earned a net profit of ₹9,093.69 crores during this period, compared to ₹7,719.11 crores in the same quarter of the previous fiscal year. Along with the announcement of the quarterly results, the company also declared a dividend for the shareholders.
During the quarter, the company’s operating income increased by 2.8% to ₹36,153.97 crores, compared to ₹35,169.33 crores in the same quarter of the previous fiscal year. Coal India’s consolidated sales for the October-December quarter stood at ₹38,357.23 crores, showing a growth of 4.4% compared to ₹36,754.29 crores in the same period of the previous fiscal year. On Thursday (15th February 2024), the share price of Coal India rose by 2.18% to ₹476.
The board of directors of Coal India has announced an interim dividend of ₹5.25 per share for the financial year 2023-24. The dividend will be paid on 12th March. Coal India Limited contributes more than 80% to domestic coal production.
In the third quarter of the current fiscal year, Coal India’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 13% to ₹13,576.35 crores, compared to ₹11,973.68 crores in the same quarter of the previous fiscal year. The EBITDA margin for the quarter was 35.4%, higher than the 32.6% in the same period of the previous fiscal year.
The company reported coal production of 19.899 million tonnes during the December quarter. In the same quarter of the previous year, the production was 180.064 million tonnes. The demand for raw coal during this period was 19.1195 million tonnes, compared to 17.5789 million tonnes in the same quarter a year ago.
Exciting news for investors as Coal India’s share price continues to rise and the company achieves significant growth in net profit and sales. With a strong contribution to domestic coal production, Coal India remains a key player in the energy sector.
Stay tuned for more updates on Coal India and its performance in the coming quarters! 🔥💼
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