Coal India Limited’s board of directors on Monday recommended a final dividend of ₹3.5 per equity share of face value of ₹10 each for the financial year 2020-2021. The company also declared its Q4 profits on the same day. Coal India Ltd (CIL) in its filing to the BSE reported a marginal 1.1% decline in its consolidated profit at ₹4,586.78 crore for the quarter which ended in March 2021 due to lower sales.
The company posted a consolidated profit of ₹4,637.95 crore last year in the same period. The filing showed that Coal India’s consolidated sales in the January-March period fell to ₹24,510.80 crore, from ₹25,597.43 crore reported in the March quarter of 2019-2020.
The expenses of Coal India also dropped to ₹21,565.15 crore from ₹22,373.046 crore reported last year during the same period. The final dividend is subject to approval of the members at the upcoming annual general meeting of the company.
The CIL also said that its production during the quarter dropped to 203.42 million tonnes compared to 213.71 million tonnes in the corresponding quarter of 2020. The filing also said that Coal India’s offtake during the January-March period was at 164.89 million tonnes over 164.33 million tonnes in the corresponding quarter of 2020.
CIL is aiming for output worth one billion tonnes by 2023-2024. It accounts for India’s 80% coal output. The Centre has 66.13% stake in the company. The capital expenditure of CIL was about ₹10,000 crore.
{{/usCountry}}CIL is aiming for output worth one billion tonnes by 2023-2024. It accounts for India’s 80% coal output. The Centre has 66.13% stake in the company. The capital expenditure of CIL was about ₹10,000 crore.
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