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Coal India Q2 net profit zooms 106% to Rs 6,044 crore on high sales

Nationwide miner Coal India’s (CIL’s) internet revenue for the June-September quarter this monetary 12 months jumped 102 per cent to Rs 6,044 crore in opposition to Rs 2,933 crore throughout the identical interval 12 months in the past.

The rise comes on the again of elevated gross sales of coal through the peak demand months, coupled with a rebound in energy demand after Covid years.

The income of the miner elevated 28 per cent year-on-year (YoY) to Rs 29,838 crore through the second quarter of the present monetary 12 months. Within the April to September interval, the income rose by 33 per cent. The corporate’s revenue for the primary half of the fiscal 12 months spiked 143 per cent to Rs 14,878 crore.

Based on the corporate’s presentation to buyers, it registered a sale of 154 million tonnes (mt) of coal amounting to Rs 27,538 crore with a median realisation of Rs 1,781 per tonne.

Through the April-October interval, CIL’s coal manufacturing elevated 17 per cent to 350 mt YoY. Offtake of coal rose 6 per cent yearly to 385 mt through the April to October interval.

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