CIL logs record profit in FY23; board declares Rs 4 per share dividend

The company’s profit during the fourth quarter, however, slid by 18 per cent to Rs 5,528 crore, owing to an increased provision towards wages, CIL said. 

The company’s net sales were the highest ever for the fourth quarter as well as for the entire FY23. Net sales at Rs 35,161 crore in Q4 were up 17 per cent over the year-ago period. For FY23, CIL’s net sales was Rs 1.27 trillion, a jump of 27 per cent compared to Rs 1 trillion in FY22, it said. 

In FY23, CIL touched a record coal production of 703 million tonne (mt). It is aiming to produce 780 mt in FY24. Higher volume sales by 17.34 mt and better average realisation under fuel supply agreement (FSA) resulted in a net impact of around Rs 3,879 crore in Q4, CIL said. 

Through e-auction sales, the company sold 16.40 mt of coal, which is lower by 41 per cent over FY22. The realisation per tonne of coal was Rs 4,526 under auction segment in Q4 against Rs 2,434 in the same quarter of FY22. The jump was Rs 2,092 per tonne or 86 per cent.