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Coal India Declares ₹3.5 profit ..

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 Today in this blog we will see how? coal India made a profit of ₹4,589 Crore in this lockdown time also.



Coal India's Q4 net profit

Coal India, India's largest coal miner, recorded a net profit of ₹4,589 crores in the fourth quarter of the current financial year (FY19) as against a net loss of ₹44 crores in the corresponding quarter of FY18. The company reported an improvement of 124% in net profit on an annual basis. The income from operations in the December 2018 quarter, the financial year 2018-19, stood at ₹17,238 crores, a growth of 26% over ₹13,744 crores recorded in the year-ago period. Coal India's profit stood at ₹4,586 crores in the financial year 2017-18. Source: Coal India Coal India said the profit was driven by higher sales volume, lower fuel and staff cost as well as increased realized coal prices.


Coal India Declares ₹3.5 Final Dividends

Coal India, the largest public-sector coal mining company in the world, declared ₹3.5 Final Dividend amounting to ₹4,589 Crore. This is after paying ₹6,529 Crore in the first half. The company reported a Net Profit of ₹4,589 crores during the fourth quarter of 2018-19 fiscal, a seven percent rise over the same period a year ago. The current year’s net profit was ₹20,376 crore, up 11 percent compared to the previous year. The Board of Directors has declared a final dividend of ₹3.5 per equity share, which is payable on July 6, 2019, subject to approval from the Central Government, the company said in a statement. Coal India is a government company and the largest supplier of coal to power stations. The company produced about 70.52 MT of coal in FY19 compared to 72.


Who is the owner of Coal India?

Coal India Limited is a state-run enterprise. This company was originally known as Coal Acquisition Corporation of India Limited and was formed in 1988 to facilitate Coal India Limited's merger with the erstwhile Coal India Limited.


What Is the Future of Coal India?

Let us start with the question of the future of coal in India. It has a monopoly power plant business. In spite of this monopoly, it is performing very well and has high growth potential in the long run. There are a couple of reasons for that. Firstly, it has a captive customer base of electricity consumers and no competition in that market segment. In fact, it has a higher market share in the captive electricity business than it does in the power plant market. It is a high-paying market with a lot of scopes. Coal India has a monopoly advantage, which is there for the long run. It was said that after the reforms in Coal India, it is likely to earn about ₹6,000 Crore from the non-power generation segment.


How many companies are in Coal India?

Coal India Ltd (CIL) is the world's largest coal mining company, having been set up as a PSU under the Coal Ministry in 1967. It has 545 coal mines under its wing, which covers a total of 381,302 hectares of land. The Company mines coal from the eight highest grades of coal and four other high-quality coal. The states under the aegis of CIL are Jharkhand, Bihar, Odisha, West Bengal, Maharashtra, Madhya Pradesh, Uttar Pradesh, Uttarakhand, and Chhattisgarh. It has assets of Rs. 7,06,676 crores, out of which a majority are in the form of mines (Rs. 6,28,484 crores) with 33,832 employees and 265 other permanent and contract employees. It has generating capacity of 5,566 MW and sells 72 percent of its production.


Conclusion

Coal India is the country's largest coal-mining and electric power generator company. It has exceptional experience in the operation of high capacity, technically advanced mines, which is recognized worldwide. Analysts believe that Coal India is the best means to establish a truly integrated and smooth electricity supply to the homes, industries, and industries. The world needs more and more electricity. Therefore, more investments will be made in coal mining. The ambitious program of making all villages electrified with the help of solar and wind power could become a reality by 2030, as the demand for electricity is going up day by day.

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