2017-2018: Coal India achieves highest ever production and offtake from sales records
Published by Claire Cuddihy,
Assistant Editor
World Coal,
Indian state-controlled coal mining company Coal India Ltd (CIL) has achieved its highest ever production and offtake in 2017-18.
Production & Offtake
Coal Production for the period was 567.37 million t, the highest ever production with a growth of 2.39% over the previous year (PY 554.14 million t).
Coal Offtake was 580.29 million t, the highest ever offtake with a growth of 6.8% over the previous year (PY 543.32 million t).
Financial results
CIL recorded a Profit Before Tax of Rs. 10726 Crores for the year for FY 2017-18. This is after providing for one-time transitional effect of increase in gratuity ceiling from Rs. 10 Lac to 20 Lac amounting to Rs. 7384 Crores. The fourth quarter profits of FY 2017-18 stood at Rs. 1152 Crores after absorbing the aforesaid gratuity impact of Rs. 7384 Crores. The PBT for FY 2016-17 was Rs. 14446 crores and PBT for fourth quarter of FY 2016-17 was 4281 Crores.
Revenue from sales
CIL gross revenue from sales stood at an all-time high of Rs. 127162 Crores while the net revenue was 81729 Crores (net of excise duty) in FY 2017-18.
Dividend
CIL paid an interim dividend at Rs. 16.50 per share amounting to Rs. 10242 Crores in the FY 2017-18. Government of India’s share was Rs. 8044.86 Crores. Dividend distribution tax of Rs. 2082 Crores was paid on dividend distribution.
Read the article online at: https://www.worldcoal.com/coal/07062018/2017-2018-coal-india-achieves-highest-ever-production-and-offtake-from-sales-records/
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