Posted By:Infra Bazaar
Coal India, The world’s biggest coal miner, today reported 16% rise and strengthen net profit at Rs 2,543.80 crore for the second quarter ended of September 30th back on higher sales margins.
Coal India (CIL) said in the file to BSE that; the company’s net profit in the consequent quarter of previous fiscal year was Rs 2,192.38 crore at the end of second quarter September 30, 2015. “The profit after tax (PAT) stood at Rs 2,543.80 crore as against Rs 2,192.38 crore for the same period last year with a growth of about 16% year on year basis (YoY basis), the state owned firm said.
The net sales of the company enhanced the company value at Rs. 16,957.59 crore during the quarter with an increase of 8%. The company’s consolidated net sales of last fiscal year in the corresponding year were Rs 15,677.98 crore. The increase in earnings is largely due to higher production and off take during the current period compared to the corresponding period in the previous year, as it said.
In July- September, GMR infrastructure has officially said that its consolidated net loss in quarter pointed to Rs 399 crore on the back of better operating margins from power plants and robust traffic growth in airports.
In the year ago the company had reported a net loss of Rs 610 crore, as it filling to BSE.
Better operating margins from robust traffic growth in airports and power plants have contributed to reduction in losses from normal activities after tax but before minority interest and share of loss from associates to Rs 375 crore in Q2 FY16",
In press statement the company has said the consolidated sale of the company increased to Rs 3,070.75 crore over Rs 2,636.03 crore in the year-ago period.
The interest in absolute term has reduced by Rs 33 crore over the last quarter.
This is an effort of refinancing group, adding that to the current rate cuts and announced by the banks are expected to further reduce the interest rates.