Coal India Q2 results: Profit drops 22% to ₹6,274.8 crore, interim dividend announced

The PSU coal miner also declared its first interim dividend for the financial year 2024-25 at ₹15.75 per share on a value of ₹10.

The scrip closed in the red at ₹459.95, down 3.62 % (-₹17.30) on the NSE on Friday, October 25.

The fall in net profit comes in the wake of lower sales, which dropped 9.03% YoY to ₹32,177.92 crore in Q2FY25 from ₹34,760.30 crore in Q2FY24.

As a result, revenue from operations fell 6.4% to ₹30,672.9 core in Q2FY25 from ₹32,776 crore in the same quarter a year ago.

Coal India reported its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) at ₹8,617 crore for Q2FY25, down 14.2% from the ₹10,038.2 crore in the corresponding period of the previous year.

Interim dividend

Coal India’s board of directors announced the PSU’s first interim dividend for the fiscal year at ₹15.75 per share on the face value of ₹10 based on the recommendations of the Audit Committee of CIL, the company said in a regulatory filing dated Friday, October 25.

The company set Tuesday, November 5 as the record for the first interim dividend on equity shares for FY25. The payment of the interim dividend will be made on Sunday, November 24.

Output

Despite falling short of its goal of producing 780 million tonnes (MT) of coal for FY24, the company saw a 10% rise in its output, with its coal production amounting to 773.6 MT in the financial year 2023-24.

It had produced 703.2 million tonnes (MT) of coal during the preceding 2022-23 fiscal.

Coal India accounts for over 80% of domestic coal output.