State-owned Coal India Q3 consolidated net profit rises 70%

State-owned Coal India Ltd on Tuesday reported a 70.1 per cent rise in consolidated net profit at Rs 7,755.5 crore for the quarter ended December 2022 on the back of higher sales. The company had posted consolidated net profit of Rs 4,558.3 crore in the year-ago period, Coal India Ltd (CIL) said in a regulatory filing. The consolidated sales of the company during the October-December period increased to Rs 32,429.46 crore, over Rs 25,990.97 crore a year ago. In a statement, the PSU said the steep rise in profit came on the back of higher add-on over the notified price in e-auction sale of 14.65 million tonnes coal during the third quarter of FY23. Though auction volumes were lower by 44 per cent in the third quarter of current fiscal, compared to 26 million tonnes of similar quarter FY22, higher premiums under the e-window helped CIL in cranking up sales by Rs 2,341 crore. The realisation per tonne of coal was Rs 5,046 under auction segment, in the third quarter against Rs 1,947 p

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