Coal India reports robust eight-fold jump in Q2 net profit

State-run Coal India Ltd (CIL) on Monday posted an eight-fold rise year-on-year in its consolidated net profit at Rs 3,084.70 crore for the July-September quarter. The company had a net profit of Rs 370.43 crore in the corresponding quarter of last fiscal, it said in a BSE filing.

During FY17-18, Coal India reported a rise of 8.3% in operating income on a year-on-year (YoY) basis while company's operating profit decreased by 23.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 11.7% in FY18 as against 16.5% in FY17.

Last year, high raw material costs weighed heavily on its margins. The coal miner reported a total income of Rs 24,209.33 crore in the quarter ending September 30 this fiscal, up 26 percent from Rs 19,171.73 crore in the year-ago quarter.