State-owned Coal India Limited reported on Wednesday a 16% decrease in consolidated net income for the quarter ended September 30, 2020 at ₹2,952 crore. Was ₹3,523 crore in the prior year period.
The company’s board of directors approved the payment of interim dividends for the 2020-21 financial year in ₹7.50 per share.
The payment date of the interim dividend is ‘as of November 27, 2020,’ the company told the exchanges.
The company’s operating income increased 4% to ₹Rs 21,153 crore vs. ₹20,383 crore a year ago.
On Wednesday, the company’s listing on the NSE closed 1% higher at ₹126.05.
Contract expenses increased significantly by approximately ₹1000 crore to ₹3,311 crore in three months ended September 30, 2020.
The Maharatna power supply produced 114.98 million tonnes of coal in the September quarter, up from 104 million tonnes in the same period last year.
Its consumption was 133.9 million tons in the July-September period, compared to 122.44 million tons in the same quarter of last year.
In another filing, the company said the joint venture on behalf of Coal Lignite Urja Vikas Pvt Ltd was incorporated on Tuesday. CIL represents more than 80 percent of the national coal production. State-owned CIL will go back ₹Rs 1.22 crore lakh in projects related to coal evacuation, exploration and clean coal technologies by 2023-24, to reach the production target of 1 billion tonnes of fuel, the Coal Minister previously said, Pralhad Joshi.
Of the proposed expenditure of more than Rs 1.22 crore lakh, CIL has planned to invest ₹Rs 32,696 crore in coal evacuation, ₹25,117 crore in mining infrastructure and ₹Rs 29,461 crore in project development for 2023-24, the minister said.
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