Coal India, one of the leading players in the coal mining sector, has reported a robust performance for the second quarter of the fiscal year 2023-24, marked by a 12.5% increase in net profit to Rs 6,800 crore. This surge in profitability can be attributed to higher sales and improved joint venture profits.
The joint venture (JV) profits notably turned positive at Rs 89.75 crore, a significant turnaround from the negative Rs 140.75 crore recorded last year. Revenue from operations also witnessed a healthy uptick, rising almost 4% to reach Rs 3,277 crore. Additionally, EBITDA demonstrated a substantial increase of 12%, reaching Rs 10,121 crore, with a 29.1% margin.
