Coal India Ltd’s first-quarter numbers were decent, but still fell marginally short of the Street’s expectations. This resulted in the stock correcting about 1.6% on Wednesday when most front-line metal and mining stocks staged a smart recovery.
Part of the reason was a dip in realizations in the preceding quarter, which muted revenue growth. However, compared to the year-earlier quarter, realizations were higher by about 4%. On the other hand, realizations from e-auction sales were lower by about 10% year-on-year.
This kept revenue growth soft at about 3.6% year-on-year. Thankfully, a control on costs and lower raw material consumption increased Ebitda by 16% year-on-year in the June quarter. Ebitda stands for earnings before, interest, tax, depreciation and amortization.
