State-owned Coal India Limited (CIL) has reported a bumper growth in profits for the recently concluded financial year (FY) of 2018-19, reports Business Today. The net consolidated profits of the company rose a remarkable 148 per cent to reach Rs 17,462.18 crore against Rs 7,038.44 crore of FY 2017-18.
Along with profits, the net revenue of the company also grew. The total revenue of CIL rose from Rs 91,625.25 crore to Rs 1,05,420.62 crore marking a jump of significant 15 per cent.
Further, the public sector company produced 606.89 million tonnes of coal in FY 2018-19 compared to 567.37 million tonnes in the previous year. The war coal off-take of the company also rose from 580.239 million tonnes to 608.14 million tonnes in the FY 2018-19 which ended on 31 March.
It should be noted that the January-March quarter alone witnessed the net consolidated profits jumping over four times to Rs 6,024.2 crore against Rs 1.302.6 crore in the same period from a year ago.
This was achieved due to higher sales and lower expenses. The net expenses of the company in the January-March quarter declined from Rs 27,369.5 crore to Rs 21,473.1 crore.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 999/year is the best way you can support our efforts.