Coal India Q1FY25: Net profit grows 4% YoY to Rs 10,959 cr; raw coal prodn rises 189.3 MT

On a sequential basis, net profits attributable to the company's owners grew more significantly, by 26.2 percent, Business Standard reported.

The production of raw coal was up by 8 percent to 189.3 million tonnes (MT) in Q1, while offtake rose by 6 percent to 198.5 MT.

Overburden removal, or the layers of soil and stone removed before mining can take place, rose 5 per cent to 524.9 MT.

Coal India and its subsidiaries accounted for 77.5 per cent of India's coal production of 997.25 MT in FY24, according to the Coal Ministry.

Revenue from operations rose slightly by 1.3 percent to Rs 36,464 crore during the quarter, compared to the same period the previous year.

Net income also saw a modest increase of 2.2 percent, reaching Rs 38,349.21 crore in Q1, up from Rs 37,521.03 crore in Q1 FY24.

Out of CIL's seven subsidiaries across the country, five achieved their production targets in Q1. However, none met their offtake targets.

Mahanadi Coal Fields Limited (MCL) in Odisha reported the highest growth in both production and offtake, increasing by 13 percent and 8 percent, respectively.

CIL's consolidated earnings before interest, taxes, depreciation, and amortization (Ebitda) for the quarter were Rs 14,339 crore, with margins at 39.3 percent.

Total expenses for the quarter remained stable, rising slightly by 0.72 percent to Rs 24,287 crore.

The largest expense component, employee benefits, decreased by 4.7 percent to Rs 11,454.5 crore.

As one of India's top 10 largest employers, CIL had 2.25 lakh employees at the end of Q1, a reduction of 4,237 from Q1 FY24.

Total capital expenditure rose by 3 percent to Rs 3,331.4 crore in Q1.

The company's overall market capitalization stood at Rs 2.91 trillion at the end of Q1, a 9 percent increase from Rs 2.67 trillion year-on-year. CIL had reported a 17.8 percent increase in annual net profit for FY24, reaching Rs 37,369 crore.