New Delhi, Jan 27 Coal India on Monday reported a profit of Rs 8491.22 crore for the October-December quarter of the current financial year.
The net profit fell by 17.5 per cent in comparison to the corresponding figure of Rs 10,291.71 crore for the same period of the previous financial year.
The company has declared a second interim dividend for the financial year 2024-25 of Rs 5.6 per equity share on the face value of Rs 10 as recommended by the Audit Committee of CIL, the company said in an exchange filing.
Coal India has fixed Friday (January 31, 2025) as the record date for the purpose of declaration of the second interim dividend on equity shares for the current financial year. The payment of the second interim dividend will be made by February 26, 2025.
Coal India had reported a consolidated net profit for the preceding quarter ending September 30, 2024, at Rs 6,289 crore which was a 22 per cent fall from Rs 8,049 crore net profit reported by the company in the year-ago period. The company had declared a dividend of Rs 15.75 per share during the quarter.
Coal India Limited (CIL) has completed its 50th year of inception, recording a spectacular 8.7-fold growth in production from 89 million tonnes (MT) during 1975-76, to a massive 773.6 MT output in the FY 2024.
With 80 per cent of its entire supplies directed to coal-based power plants at highly competitive rates, CIL plays a key role in enabling keeping power prices low.
Though CIL's employee strength fell sharply by almost a third to 2.25 lakh now from 6.75 lakh employees during the early years of nationalisation, production has taken an upward leap.
Meanwhile, India's total coal production spearheaded by Coal India has recorded a growth rate of 5.33 per cent during December 2024 to touch 97.94 MT compared to the corresponding figure of 92.98 MT for the same month in the previous year.
--IANS
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor