Categories: Business

Coal India Q1 profit plunges 55 percent YoY

Photo: GOOGLE

Coal India Q1 result

new Delhi. Coal India's profit fell 55 per cent in the first quarter to Rs 2080 crore. A year ago, the company's profit was at Rs 4630 crore. According to the company, Kovid 19 has seen an impact on the company's business during the quarter. There was a sharp drop in power demand during the lockdown. This led to a fall in demand for coal from the power sector. On the other hand, income was also affected due to closure of business activities in other sectors.

The company's revenue from operations declined by 25.9 per cent to Rs 18487 crore during the quarter. The figure was Rs 24,939 crore in the same quarter last year. At the same time, the total offtake of coal during the quarter decreased by 21.5 per cent over the previous year to 120 million tonnes.

Along with this, Earnings before interest tax depreciation and amortization fell by 53.8 per cent to Rs 3051.7 crore from the previous year. At the same time, EBITDA margin has come down to 16.5%. Other income has come down sharply to Rs 785 crore. Other income last year was Rs 1150 crore.

This post was published on September 3, 2020 4:05 am

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