Kolkata: State-run Coal India Ltd (CIL) on Thursday reported over 362 per cent increase in its consolidated net profit at Rs 6,024.23 crore for the fourth quarter of 2018-19 (Q4FY19) against Rs 1,302.63 crore in the year-ago period.
Its revenue from operations in Q4 was Rs 28,546.26 crore, up 7.5 per cent from Rs 26,547.58 crore in the corresponding quarter of the FY18.
The company reported FY19 net profit at Rs 17,462.18 crore, up 148 per cent from Rs 7,038.44 crore in FY18. Earning before interest, tax, depreciation and amortisation (Ebitda), the measure of operating performance, has been restored to 30 per cent after a long gap.
IN Q4FY19, CIL produced 194.45 million tonnes coal against 183.45 million tonnes during the same quarter of the previous fiscal, marking an increase of 6 per cent (11 million tonnes) in volume terms.
Coal supplies to consuming sectors in Q4FY19 were 163.51 million tonnes, registering a 3 per cent growth on the comparative quarter basis, with absolute increase being 4.65 million tonnes. Coal off-take during the same quarter of 2017-18 was 158.86 million tonnes.
During the quarter, total expense, including employee benefits, declined to Rs 21,473.14 crore against Rs 27,396.58 crore in year-ago period.
The average realisation of coal, including raw, washed (coking and non-coking) and other by-products, during the March quarter, was at Rs 1,634 per tonne as the company sold 163.44 million tonnes.
E-auction's realisation of raw coal during the quarter was at Rs 2,754 per tonne, while FSA (fuel supply agreement) realisation stood at Rs 1,460 a tonne, CIL said in a regulatory filing.
The Kolkata-headquartered company had recorded the highest gross sales of Rs 1,40,603 crore and net sales of Rs 92,896.08 crore.
"Better average realisation in both FSA and e-auction sales coupled with operational cost control propelled the company to its best financial performance. Importantly, coal quality variance was under control and we have been able to arrest the grade slippage to large extent," said a Coal India official.
Average realisation per tonne of coal in FSA sales in FY19 witnessed an 8 per cent increase to Rs 1,348 from Rs 1,243 in FY18, the official said. Overall average realisation per tonne of coal went up to Rs 1,529 in FY19 against Rs 1,398 in FY18 with the growth being 9 per cent.
The Maharatna coal mining giant had produced 606.89 million tonnes coal in 2018-19 while supplies to the consuming sectors touched a new high of 608.14 million tonnes.