CIL Q3 net jumps 14 pct to Rs 3,718.25 cr on strong volume growth

Coal India, a state-controlled coal mining company, on Thursday reported higher-than-expected growth of 13.96 per cent in its consolidated net profit at Rs 3,718.25 crore for the third quarter ended December 31, 2015, helped by strong volume growth. “The state-owned company had posted consolidated net profit of Rs 3,262.49 crore for the quarter ended December 31, 2014,” Coal India said in a filing to Bombay Stock Exchange. The consolidated total Income of company increased 5.05 per cent to Rs 20,953.35 crore in Q3FY16 from Rs 19,944.86 crore in Q3FY15. According to CNBC-TV18 poll, the company was seen posting net profit at Rs 3,515 crore, while net sale was seen at Rs 19,438 crore. On the standalone basis, the company has posted net profit of Rs 672.55 crore against total revenue of Rs 882.33 crore for the quarter ended December 31, 2015. Operating profit (earnings before interest, tax, depreciation and amortisation) surged 8.77 per cent year-on-year to Rs 5,542.91 crore versus Rs 5,095.75 crore in the year ago period. However, other income fell 17 per cent to Rs 1,354 crore as compared to Rs 1,634.4 crore in same quarter last fiscal. Ahead of announcement, shares of company ended Thursday’s trading at Rs 305.05 apiece, down 2.87 per cent, on BSE.