State-owned Coal India Ltd on Wednesday reported a 4% rise in its consolidated net profit in the first quarter of the financial year 2024-25 at Rs 10,943.55 crore compared with Rs 10,498.39 crore in Q1FY25 on improved sales. On a sequential basis, the net profit increased by 26.6% from Rs 8,640.45 crore.The company’s revenue from operations increased marginally by 1.3% to Rs 36,464.61 crore against Rs 35,983.21 crore in the same period the previous fiscal. Total income too surged by 2% on year to Rs 38,349.21 crore. Total expenses during the quarter stood at Rs 24,287.40 crore, up by a marginal 0.7% on year.
The country’s major coal production and mining company produced 189.28 million tonnes of coal in the quarter under review, up 7.8% from 175.47 million tonnes in Q1FY24. Off-take of coal also increased to 198.50 million tonnes from 186.95 million tonnes during the same period of FY24, the company said in an exchange filing.
The company, during the quarter under review, opened a new non-coking coal washery with capacity of 10 million tonnes per annum which started operations from April 15 at a total cost Rs 398 crore.Coal India also incorporated a new subsidiary Bharat Coal Gasification & Chemicals Limited to uptake coal gasification business and projects.
“CIL is the preferred bidder for Madhya Pradesh’s Khattali Chotti graphite block,” the company said in a presentation. CIL’s capital expenditure for the first quarter of the financial year 2024-25 increased by 2.6% to Rs 3,331.44 crore compared with Q1FY24 when the capex stood at Rs 3,244.70 crore, the company said.