High e-auction prices power Coal India profits
- Coal India Ltd’s earnings for the half year ending September have set the stage for a solid FY23.
Coal India Ltd’s (CIL’s) earnings for the half year ending September (H1FY23) have set the stage for a solid FY23. The company’s consolidated reported net profit is up by nearly 144% year-on-year (y-o-y) to ₹14,878 crore. The state-run coal producer has gained immensely in FY23 so far from the spike in prices of coal sold through the e-auction route.