Coal India Q3 profit jumps 50% YoY to Rs 4,567 crore, beats Street estimates

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ETMarkets.comLast Updated: Feb 12, 2019, 08:38:00 PM IST

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Revenue rose 15.38 per cent to Rs 25,045.83 crore against Rs 21,707.04 crore.

Coal-mine-getty-1200 — Coal India reported an Ebitda of Rs 6,787.70 crore

Mining major Coal India on Tuesday reported a 50 per cent jump in consolidated profit at Rs 4,566.71 crore for the quarter ended December 31, beating Rs 3,778 crore net estimated by analysts in an ET Now poll.

The company had posted a profit of Rs 3,042.57 crore in the year ago period.

Revenue rose 15.38 per cent to Rs 25,045.83 crore against Rs 21,707.04 crore in the same quarter of the previous fiscal.

Coal India reported an Ebitda of Rs 6,787.70 crore, while Ebitda margin came in at 27.10 per cent.

The company said its coal production for the first nine months of the ongoing fiscal jumped to 412.44 million tonnes against 383.92 million tonnes in the year ago period.

"During the quarter ended December 31, the government further divested 3.19 per cent, 2.21 per cent and 0.01 per cent of total equity share capital equivalent to 33,59,97,714 number of equity shares by way of placement of shares in Bharat 22 ETF, CPSE ETF and OFS, respectively, and post such divestment, the Centre holds 72.91 per cent of equity share capital,” Coal India said in a regulatory filing.

The board of the company in a meeting held on February 4 had approved a proposal for share buyback of fully paid equity shares of Rs 10 each not exceeding 4,46,80,850 equity shares at a price of Rs 235 per equity share, for Rs 1,050 crore.

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