Coal India declares second interim dividend for FY19; all you need to know

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Coal India shares closed the day at Rs 243.80 up 5.15 or 2.16 per cent on BSE.

Coal India on Thursday declared second interim dividend for FY19 at Rs 5.85 per share. The date of payment of dividend is on and from March 29 this year, the state-run company said in a regulatory filing.

“The Board of Directors in its meeting on-Thursday, the l4th March, 2019 had approved payment of 2nd Interim Dividend for the financial year 2018-19 @ Rs 5.85 per share of the face value of Rs l0/- as recommended by the Audit Committee of CIL in its meeting held on date,” the company said.

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Coal India shares closed the day at Rs 243.80 up 5.15 or 2.16 per cent on BSE.

Meanwhile, Coal India reported a 33.85 per cent increase in its consolidated net profit to Rs 4,565.74 crore for the December quarter 2018, much above market expectations.

The firm reported net sales of Rs 23,385.43 crore, an 11.17 per cent y-o-y rise from Rs 20,772.23 crore during the corresponding period last fiscal. Expenses shot up 5.28% to Rs 19,181.06 crore from Rs 18,172.78 crore during the year-ago period, mainly on account of higher wages.

Profit before tax jumped 33.86 per cent y-o-y to Rs 7,028.07 crore from Rs 4,648.10 crore a year ago period. CIL clocked an e-auction sale of Rs 4,171 crore, realising an average e-auction price of Rs 2,847 per tonne. Price realisation from fuel supply agreement was Rs 1,334 per tonne.

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