State-owned Coal India Limited (CIL) has reported a 17.4% year-on-year decline in its consolidated net profit for the third quarter of FY25, posting Rs 8,491.22 crore, down from Rs 10,291.71 crore during the same period last year. The decline in profit was primarily attributed to a dip in sales during the October-December period.
The company’s total sales for the quarter stood at Rs 32,358.98 crore, down from Rs 33,011.11 crore in the year-ago period. Additionally, total expenses for the coal giant increased to Rs 26,201.55 crore, up from Rs 25,132.87 crore last year, reflecting rising costs amid challenging market conditions.
Despite the decline in consolidated profit, CIL saw an improvement in its standalone performance. The company’s standalone profit rose to Rs 9,646.26 crore, compared to Rs 9,316.40 crore during the same quarter last year. Standalone sales also surged to Rs 51.45 crore from Rs 34.99 crore in the previous year.
In light of its performance, the board of CIL declared a second interim dividend of Rs 5.60 per equity share for FY25.
CIL, which accounts for over 80% of India’s domestic coal output, reported a 2.2% increase in coal production, reaching 543.36 million tonnes (MT) in the first nine months of the fiscal year. However, the company has revised its production target for the current fiscal year to 806-810 million tonnes, down from the earlier projection of 838 million tonnes.
Chairman PM Prasad had previously mentioned the company’s efforts to ramp up production in the remaining months of the fiscal year, aiming for a growth of around 4-5% by March 2025.
The company’s stock closed lower on Monday, at Rs 375.40, marking a 2.04% drop from the previous day’s closing price on the Bombay Stock Exchange (BSE).
