Buoyed by higher offtake, Coal India on Monday reported nearly 35 per cent growth in consolidated net profit after minority interest at Rs 5,413.9 crore for the fourth quarter ended March 31.
“The rise in profit was on account of higher sales,” CIl chairman S Narsing Rao said. The company's net profit in the January-March quarter in the last fiscal stood at Rs 4,013 crore.
The offtake during the quarter was higher by 7.12 million tonne, or 5.8 per cent growth, compared to the figures in corresponding period last year. The average realisation per tonne of coal during the quarter was down to Rs 1,511 from Rs 1,530 a tonne in the corresponding period 2011-12. This was due to decline in e-auction realisation from Rs 2,851 a tonne in Q4 FY 12 to Rs 2308 per tonne in the quarter FY 13'.
The consolidated net sales of the PSU during the quarter also went up to Rs 19,904 crore from Rs 19,418 crore over the corresponding period of FY'12, the statement added.
The total expenses of the company during the period came down to Rs 14,225 crore from Rs 16,021 crore in Q4FY'12, it said. Employee benefit expenses of CIl during the quarter reduced to Rs 7,469 crore over Rs 9,465 crore over the same quarter in FY 2011-12.