Coal India shares in news today post Q4 earnings, dividend announcement

Shares of Coal India are in news today after the PSU major reported a 26% rise in Q4 net profit up to Rs 8,682 crore in Q4. Net profit stood at Rs 6,875.07 crore in Q4 of FY23.

However, net profit was down 14 percent sequentially from Rs 10,130 crore in Q3FY24. The coal producer also announced a final dividend of Rs 5 per share for the financial year 2023-2024.

 Revenue from operations slipped 2 percent to Rs 37,410.39 crore in the March 2024 quarter against Rs 38,152 crore in the corresponding period of last year.

The earnings were announced after market hours on Thursday. Coal India shares ended 0.23% lower at Rs 453.25 in the same session. Market cap of the firm stood at Rs 2.79 lakh crore. A total of 6.29 lakh shares of the firm changed hands amounting to a turnover of Rs 28.60 crore.

Coal India shares have a one-year beta of 1, indicating average volatility during the period.

In terms of technicals, the relative strength index (RSI) of Coal India stands at 56.7, signaling it's trading in the neither in the overbought nor in the oversold zone.

Coal India shares stand higher than the 10 day, 20 day, 50 day, 100 day and 200 day moving averages.     

Consolidated sales fell 1.8% to Rs 39,654.4 crore in the last quarter compared to Rs 40,371.5 crore in the corresponding period of the previous fiscal year.

Consolidated EBITDA came in at Rs 11,337 crore in the March 2024 quarter, while margins stood at 30.3%.

Total expenses slipped 8% year-on-year to Rs 28,298 crore in Q4  compared with Rs 30,873 crore expenditure in the fourth quarter of previous fiscal.

On an annual basis, Coal India reported a 18% rise in net profit to Rs 37,402 crore compared with Rs 31,763 crore recorded in FY23.

Revenue from operations in the last fiscal rose 3% year-on-year to Rs 1.42 lakh crore against revenue of Rs 1.38 lakh crore in FY23.