Covid disruptions: Coal India net profit declines 32% in FY21

By: |
June 15, 2021 8:03 AM

The company posted a net profit of Rs 2,474.55 crore for the fourth quarter, while total comprehensive income for the quarter was at Rs 4,365 crore.

During FY21, CIL had a revised capex target of Rs 13,000 crore despite pandemic, which exceeded by Rs 284 crore.During FY21, CIL had a revised capex target of Rs 13,000 crore despite pandemic, which exceeded by Rs 284 crore.

State-run Coal India’s net profit fell above 32% at Rs 7,640 crore on a total income of Rs 93,818 crore in FY21. The PSU coal miner had booked a net profit of Rs 11,280 crore on a total income of Rs 1,02,525 crore in FY20.

The company posted a net profit of Rs 2,474.55 crore for the fourth quarter, while total comprehensive income for the quarter was at Rs 4,365 crore.

The results are an outcome of all possible factors arising out of the Covid-19 pandemic, a CIL official said.

Sales revenue in FY21 was down 7.45% at Rs 82,710 crore compared with Rs 89, 373 crore in FY20 as both production and offtakes were down by 6 MT and 7 MT at 596 MT and 574 MT, respectively, compared with FY20. Besides, the CIL board recommended a final dividend of Rs 3.50 per share.

The interim dividends resulted in an outgo of Rs 4,622 crore and Rs 3,081.37 crore, respectively. An interim dividend of Rs 7,395 crore was paid in FY20 at the rate of Rs 12 per share.

The company reported an average per tonne price realisation of Rs 1,391.73 from FSA supplies, while e-auction price realisation was Rs 1,752.03 per tonne.

The earnings per share for the fiscal dropped to Rs 12.40 from Rs 18.31 in the earlier fiscal. For the fourth quarter of the fiscal under review, it dropped to Rs 4.20 from a level of Rs 17.25 during the corresponding period a year ago.

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