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Coal India rallies over 4% to hit 52-week high after strong Q2 results

Shares of gained 4.5% to hit a brand new 52-week excessive in Monday’s commerce after the coal producer reported a 106% year-on-year (YoY) acquire in its Q2 revenue at Rs 6,044 crore. In the identical quarter a 12 months in the past, the PAT was at Rs 2,933 crore.

The corporate’s consolidated income jumped 28.1% YoY to Rs 29,838 crore in the course of the quarter and its consolidated EBITDA stood at Rs 7,280 crore.

The corporate introduced a dividend of Rs 15 per share and has mounted the dividend date as November 16.

Within the September ended quarter, the corporate reported manufacturing of uncooked coal at 139.228 million tonnes as in comparison with 125.839 million tonnes within the year-ago interval. The offtake additionally improved to 154.533 million tonnes in Q2FY23 from 147.434 million tonnes in Q2 FY22.

Within the earlier monetary 12 months (FY), the corporate declared a dividend of Rs 17 per share, leading to a dividend yield of over 6% as per the present inventory value.

The inventory has gained 76% year-to-date (YTD) and 51% within the final one-year.

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