ACC, NLC India, and JSW Energy are in focus today; here is why

Two other companies that won coal blocks are Mineware Advisors Pvt Ltd and Shreeji Nuravi Coal Mining and Trading Pvt Ltd.

A total of nine blocks were put on sale in the tenth round of the auction.

"On the first day, five coal mines were put up for auction," the statement issued by the coal ministry said.

One of the five coal mines is fully explored, while four are partially explored. 

The total geological reserves for these five coal mines are 2,630.77 million tonnes. The cumulative peak-rated capacity for these blocks is 12 MTPA.

The government launched the auction of coal mines for commercial mining under the tenth round on June 21.

"After evaluation of bids, forward e-auctions for nine mines commenced from November 21," it said.

These five mines, upon operationalisation will generate an annual revenue of ₹1,106.91 crore. These mines will attract capital investment of ₹1,800 crore and will provide employment to 16,224 people, the release added. 

The company had posted a consolidated profit of ₹1,085.93 crore in the year-ago period.

However, the revenue from operations in the July-September quarter increased to ₹3,657.27 crore, over ₹2,977.53 crore in the year-ago period.

NLC India is a Navratna company under the Ministry of Coal. Its core business is mining and power generation.

Meanwhile, cement maker ACC Ltd reported a consolidated profit after tax of ₹199.7 crore for the second quarter ended September 30, 2024. The company had logged a profit after tax (PAT) of ₹387.88 crore in the corresponding period last fiscal.

JSW Energy, on the other hand, reported a marginal rise in its consolidated net profit at ₹853 crore for the September 2024 quarter.