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Coal India Q4: How it beat Street estimates

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)

Tags: Coal India Ltd, CIL, Quarterly earnings, Earnings, Coal, Mining

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