The company reported a 37 per cent on-year rise in consolidated revenue from operations to Rs 25,282.15 crore for the quarter, which was better than Street’s expectations.
The company also saw a sharp rise in expenses during the quarter led by raw material cost. Coal India’s consolidated total expenses in the reported quarter jumped 31.3 per cent on-year to Rs 21,626.5 crore.
The strong year-on-year performance is on the back of a low base in the year-ago quarter, which was impacted by the national lockdown to contain the spread of the Covid-19 infection.
On a sequential basis, the company’s topline and bottomline was affected by the second wave of Covid-19 infections in the country. Coal India’s topline fell 5 per cent sequentially, while its consolidated net profit sank 31 per cent.
Shares of the coal miner were down 0.3 per cent at Rs. 142.85 on the National Stock Exchange.
