Coal India Q4 marginally up; glut refrains further profits
Bhagyashree Vivarekar / 30 May 2016
India’s coal manufacturer and seller Coal India has posted marginally positive Q4 results. Coal India has missed street expectations as oversupply has weighed down on prices. However, recently the company board has approved to raise the weighted average coal prices by 6.2 per cent to earn additional revenue.
India’s coal manufacturer and seller Coal India has posted marginally positive Q4 results. Coal India has missed street expectations as oversupply has weighed down on prices. However, recently the company board has approved to raise the weighted average coal prices by 6.2 per cent to earn additional revenue.
Company’s consolidated Revenues have come in at Rs 20759.45 crores in this quarter as against Rs 18971.48 crores in Q3FY16, an increase of 9.1 per cent. Company’s EBITDA has risen by 14.8 per cent at Rs. 5533.82 crores as against Rs. 4819.82 crores during last quarter. Meanwhile Coal India has witnessed a decrease in its inventory cost to 2186.42 crores for Jan-Mar quarter.
Company’s Net Profit stands at Rs 4247.93 crores in Q4FY16 as compared to Rs 3718.25 crore in the last quarter with an increase of 14.25 per cent.
The Year on Year (YOY) results show that, Company’s consolidated Revenues have remained flat which was Rs 20774.22 crore in the same quarter last year. EBITDA of company has dropped 7.2 per cent from Rs 5964.79 crore YOY. Net profit (PAT) too stands flat from Rs 4238.55 crore during the corresponding quarter of the last year.
On a yearly basis, company’s consolidated Revenues have increased by 5 per cent to Rs. 75644.27 crore for the year ended March 2016 as compared to Rs 72014.62 crore for FY15. EBITDA too has surged in line at Rs. 18306.28 crore for FY16 as compared to Rs 17335.4 crore in FY15, an increase of 5.6 per cent. Net profit has grown from Rs 13726.7 crore in FY15 to Rs 14274.33 crore in FY16, an increase of 4 per cent.
The Stock opened on a positive note today after it posted results on Saturday. The stock is trading 3.4 per cent up, at Rs 290.75.
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