CIL net up 69% in Q3 on higher premium in e-auction
NEW DELHI: State-run Coal India Ltd on Tuesday posted a 69% increase in net profit in the third quarter (October-December 2022) at Rs 7,719 crore against Rs 4,557 crore a year ago on the back of increased sales and a sharp rise in realisation through e-auction sale.
Profit in the nine months till December stood at Rs 22,597 crore, clocking a 112% increase over Rs 10,663 crore in the corresponding period of 2021-22 fiscal year and tops the highest-ever annual profit of Rs 17,464 crore posted by the company in 2018-19.
The record profits came in spite of capping coal prices for the past five years amid rising input costs, especially diesel and explosives.
