Coal India December Quarter Results: The net consolidated profit of government company Coal India Limited in the October-December 2024 quarter declined by 17.4 percent on an annual basis to Rs 8,491.22 crore. The company said its profits have declined due to low sales. In the same quarter a year ago, the company had registered a profit of Rs 10,291.71 crore. Coal India has told the stock markets that its sales during the October-December 2024 quarter declined to Rs 32,358.98 crore on an annual basis. It was Rs 33,011.11 crore in the December 2023 quarter.
The company’s total expenses during the January 2024 quarter increased to Rs 26,201.55 crore on an annual basis. A year ago it was Rs 25,132.87 crore. Coal India Limited’s share in the country’s domestic coal production is more than 80 percent.
Coal India shares fell 2 percent
Due to falling profit in the December quarter, Coal India shares closed at Rs 375.40 on BSE with a fall of 2 per cent on January 27. The market cap of the company has reached Rs 2.31 lakh crore. The stock has fallen 26 percent in the last 6 months. The government held 63.13 percent stake in the company till the end of December 2024.
The stock had seen a 52-week high of Rs 544.70 on August 26, 2024 and a 52-week low of Rs 361.30 on January 13, 2025 on BSE. The upper circuit limit for the company’s shares is Rs 421.50 and the lower circuit limit is Rs 344.90.
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Recently Achyut Ghatak has taken over the post of Director (Technical) in Coal India. Ghatak did B. Has replaced Veera Reddy. Reddy had retired in August last year. The Maharatna company had informed that after Reddy’s retirement, Coal India Chairman P.M. Prasad was holding the additional charge of the post of Director (Technical). Achyut Ghatak started his career in 1989 as a Junior Executive Trainee in Western Coalfields Limited, a subsidiary of Coal India.