Coal India’s Q1 Net profits increase by 178% to Rs 8,834 crore

New Delhi: Coal India reported a total net profit of Rs 8,834.22 crore for the quarter ended June 10, up 178.31% from Rs 3,174.15 crore in the same quarter last year.

The world’s largest coal miner reported in an exchange statement that operating revenue totaled Rs 35,092.17 crore, up 38.79 percent from Rs 25,282.75 crore in the same period last year.

The company reported that during the quarter, raw coal production increased to 159.75 million tonnes from 123.98 million tonnes in the prior quarter.

According to the company, raw coal offtake was 177.49 million tonnes, up from 160.44 million tonnes in the same period last year.

Shares of the company closed at Rs 220, up 2% before the earnings report. With year-to-date gains of 42%, the company is one of the best performers from the metals and mining industry this year.

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