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)
Cement maker ACC on Thursday said its profit after tax (PAT) increased four-fold to Rs 945 crore in the March quarter of the previous fiscal year on account of robust sales.
The company had reported a PAT of Rs 236 crore in the year-ago period.
Revenue from operations rose to Rs 5,409 crore in the fourth quarter as compared with Rs 4,791 crore in the year-ago period, ACC Ltd said in a regulatory filing.
.webp)
Nestle on Thursday missed first-quarter organic sales growth estimates, as the world's biggest packaged food company hiked prices and sold fewer products, particularly in North America.
The maker of Maggi noodles, Nescafe coffee and KitKat chocolate wafer bars confirmed its 2024 guidance of organic sales growth of about 4 per cent and a moderate increase in underlying trading profit margin.
.webp)
Shares of Hitachi Energy were buzzing in trade on Thursday as they soared as much as 18.89 per cent to hit a fresh record high of Rs 9,765.30 per share, driven by expansion plans. On the other hand, S&P BSE 500 was trading 0.21 per cent higher at 74,010.29 levels, as of 1:02 PM.
Hitachi Energy intends to establish additional global capability centres (GCCs) in India to bolster its local operations in response to escalating energy demand and the government's focus on expanding renewable energy generation, according to Reuters.
.webp)
Air India Express will give first-time voters aged 18 to 22 a 19 per cent discount on domestic and international flight tickets for travelling to their home constituencies and back, the Economic Times (ET) reported.
This deal is part of the airline’s "#VoteAsYouAre" campaign, “designed to mobilise first-time voters to fly home to exercise their constitutional right and help guide the flight path of the nation", ET reported.
.webp)
National Stock Exchange (NSE) on Wednesday introduced derivative contracts on Nifty Next 50 index, which received a positive response from market participants.
More than 375 trading members from across the country participated in the index derivatives, the National Stock Exchange (NSE) said in a statement.
.webp)
.webp)
.webp)
.webp)
.webp)
