Coal India on Monday beat Street expectations and posted a 35 per cent increase in net profit at Rs 5,414 crore for the fourth quarter. Analysts had forecast net profit to come in at Rs 4,997 crore.
A look at how the mining behemoth surpassed Street guidance
Employee expenses for the quarter came down to Rs 7,470 crore, compared to Rs 9,466 crore in the same quarter a year ago, which included additional provision of about Rs 2,300 crore.
The world's largest coal miner had made a steep provision on account of wage increases during the same quarter last year, pushing up costs. However, the wage bill has been spread uniformly in the current fiscal year.
The consolidated net sales for the quarter went up 2.5 per cent to Rs 19,904 crore from Rs 19,418 in the corresponding period last year.
Income from operations rose to Rs 68,302 crore for the year ended March 31, 2013 from Rs 62,415 crore in the year ago-period.
The miner produced 452.2 million tonnes (MT) of coal in FY'13 against 435.8 MT in FY'12.
The company's offtake also went up to 465 MT in the year ended March 31, 2013 against 433 MT in the year-ago period.
(With inputs from agencies)
Story first published on: May 27, 2013 22:01 (IST)