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Home / Companies / Company Results /  CIL's Q2 net profit falls 16%; declares interim dividend of 7.50 per share

State-run Coal India Limited on Wednesday reported 16% decline in consolidated net profit for the quarter ending 30 September, 2020 at 2,952 crore. It was 3,523 crore in the year-ago period.

The company's board approved payment of interim dividend for the financial year 2020-21 at 7.50 per share.

The date of payment of interim dividend is 'on and from 27th November, 2020', the company told exchanges.

The company's revenue from operations increased 4% to 21,153 crore as against 20,383 crore a year ago.

On Wednesday, the company's scrip on NSE closed 1% higher at 126.05.

Contractual expenses jumped sharply by about 1,000 crore to 3,311 crore in three months ended on 30 September, 2020.

The Maharatna PSU produced 114.98 million tonne of coal in the September quarter, up from 104 million tonne in the year-ago period.

Its offtake was at 133.9 million tonne in the July- September period as against 122.44 million tonne in the same quarter last year.

In another filing, the company said the joint venture company in the name of Coal Lignite Urja Vikas Pvt Ltd was incorporated on Tuesday. CIL accounts for over 80 per cent of domestic coal production. State-owned CIL will pump over 1.22 lakh crore in projects related to coal evacuation, exploration and clean coal technologies by 2023-24, to achieve 1 billion tonne of fuel output target, Coal Minister Pralhad Joshi had earlier said.

Out of the proposed spend of over 1.22 lakh crore, CIL has planned to invest 32,696 crore on coal evacuation, 25,117 crore on mine infrastructure and 29,461 crore on project development by 2023-24, the minister had said.

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