Coal India profit rises 22%
.jpg)
Coal India has posted a net profit of Rs 4,629.87 crore for the June quarter, a growth of 22.27 per cent, on the back of better realisation even as production and offtake volumes remained almost constant on an annual basis.
Revenue from operations during the quarter was Rs 24,938.99 crore compared with Rs 24,070.80 crore, a growth of 3.6 per cent.
The average realisation for the public sector miner during the quarter was Rs 1,515.5 per tonne against Rs 1,476 per tonne in the corresponding quarter previous year.
Coal India’s offtake during the quarter was 153.49 million tonnes against 153.47mt in the year ago period. The public sector miner offered higher quantity of washed coal during the quarter at 3.05mt compared to 2.55mt in previous year where average realisation per ton is more.
Production during the quarter was 136.94mt compared to 136.85mt in the corresponding quarter previous year.
Total expenses during the quarter at Rs 19,077.44 crore also was lowered compared with Rs 19,272.43 crore in the corresponding quarter previous year. This aided to the growth in bottomline.
Coal India plans to ramp up its production by 8.75 per cent in the current fiscal over 2018-19 when it produced 606.88mt. The aspirational production and offtake target is set at 660mt in 2019-20. A capital expenditure of Rs 10,000 crore has been set for the fiscal to support the growth.
Other Latest News
.webp)
Prime Minister Narendra Modi on Monday (local time) held a bilateral meeting with his Italian counterpart, Giorgia Meloni, on the sidelines of the G20 Summit in Brazil. PM Modi stated that their discussions focused on strengthening ties in defence, security, trade, and technology. He remarked, "India-Italy friendship can greatly contribute to a better planet."
.webp)
The Andhra Pradesh government has repealed the two-child norm for candidates contesting local body elections. The state assembly on Monday passed the AP Panchayat Raj (Amendment) Bill, 2024, and the AP Municipal Laws (Amendment) Bill, 2024, effectively removing the decades-old restriction, reported NDTV.
The two-child policy was introduced in May 1994, mandating that candidates seeking election to Gram Panchayats, Mandal Praja Parishads, and Zilla Parishads should not have more than two children.
.webp)
Police have registered a case against four unidentified persons on charges of attempt to murder after NCP (SP) leader and former Maharashtra home minister Anil Deshmukh was seriously injured in stone pelting at his car in Nagpur, officials said on Tuesday.
The incident took place at around 8 pm on Monday and Deshmukh was later admitted to a private hospital in Nagpur.
.webp)
Amid alarmingly high pollution levels in Delhi, Environment Minister Gopal Rai on Tuesday urged the Centre to convene an emergency meeting to tackle the issue and said it is the moral responsibility of Prime Minister Narendra Modi to intervene in the matter.
Addressing a press conference, Rai said the Centre has not acted on the Delhi government's repeated requests to allow artificial rain in the national capital and he will again write to Union Environment Minister Bhupender Yadav.
.webp)
The Enforcement Directorate (ED) has uncovered "direct links" between e-commerce giants Amazon and Flipkart and their preferred sellers, The Economic Times reported on Tuesday. The central probe agency is investigating alleged violations of foreign investment laws by the companies.
According to the report, the ED quizzed the “top” five sellers of both firms and found that many of these sellers are either former employees or relatives of former associates of Amazon and Flipkart.
.webp)
.webp)
.webp)
.webp)
.webp)
