Coal India shares advance over 4% after March quarter earnings

Coal behemoth CIL reported net profit at Rs 8,682.20 crore for the March quarter against Rs 6,875.07 crore in the year-ago period, on the back of higher supplies of the dry fuel.

Coal India shares advance over 4% after March quarter earnings (File Image)

Shares of government-owned Coal India Ltd (CIL) climbed over 4 per cent after the company reported a 26.2 per cent rise in consolidated net profit for the quarter ending March.

At the BSE, the stock jumped 4.15 per cent to Rs 472.10 whereas the price rallied 3.97 per cent to Rs 471.95 at the NSE.

Coal behemoth CIL reported net profit at Rs 8,682.20 crore for the March quarter against Rs 6,875.07 crore in the year-ago period, on the back of higher supplies of the dry fuel.

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The company’s consolidated income in the latest January-March period declined to Rs 39,654.50 crore from Rs 40,371.51 crore a year ago.

The company’s PAT logged a 17.8 per cent year-on-year growth for the entire 2023-24 fiscal to touch Rs 37,369 crore. CIL accounts for over 80 per cent of the country’s domestic coal production.