Coal India Q2 Net Profit Rs 84.91 Bn Declares Rs 5.6 Dividend

28 Jan 2025 CW Team

Coal India reported a profit of Rs 84.91 billion for the October-December quarter of the current financial year, reflecting a 17.5 per cent decline from Rs 102.91 billion in the same period last year.

The company announced a second interim dividend of Rs 5.6 per equity share for the financial year 2024-25, based on a face value of Rs 10 per share. The record date for the dividend has been set for January 31, 2025, with the payment scheduled by February 26, 2025.

For the preceding quarter ending September 30, 2024, Coal India reported a consolidated net profit of Rs 62.89 billion, a 22 per cent decrease from Rs 80.49 billion in the same quarter of the previous year. The company had declared a dividend of Rs 15.75 per share during that period.

As Coal India celebrates its 50th anniversary, it has achieved an 8.7-fold increase in production, from 89 million tonnes (MT) in 1975-76 to 773.6 MT in FY 2024. The company supplies 80 per cent of its coal to coal-based power plants at competitive rates, playing a significant role in keeping power prices low.

Despite a substantial reduction in its workforce, which has dropped from 6.75 lakh employees to 2.25 lakh, Coal India’s production has experienced substantial growth. In December 2024, India’s total coal production, led by Coal India, grew by 5.33 per cent, reaching 97.94 MT compared to 92.98 MT in December 2023. News source: ET Energy

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