CIL reports mixed bag of results for Q4 of FY23-24
Coal India, the world's largest coal producer, reported a mixed bag of results for the fourth quarter of FY23-24.
On the positive side, net profit rose 26% to Rs 8,640.5 crore compared to Rs 6,869.5 crore in the corresponding quarter of the previous year. This increase can be attributed to cost efficiency measures and changes in accounting for stripping activities in open-cast mining.
Coal production and supply also saw an uptick. Coal supplies increased by 8% to 201.6 MT, while production grew by 7.8% to 241.75 MT in Q4 FY23-24 compared to the same period in the previous fiscal.
However, revenue from operations witnessed a decline of 2% to Rs 37,410.4 crore compared to Rs 38,152.3 crore in the year-ago period.
Overall, Coal India's Q4 FY23-24 results indicate an improvement in profitability despite a dip in revenue. The company's increased focus on cost management and operational efficiency seems to be paying off.
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