For the quarter ended 30-06-2019, the company has reported consolidated sales of Rs 23223.00 crore, down -13.04% from last quarter sales of Rs 26704.27 crore and up 3.64% from last year same quarter sales of Rs 22407.73 crore. The company has reported net profit after tax of Rs 4630.63 crore in the latest quarter.
The company’s ability to hike Fuel Supply Agreement (FSA) prices and increase evacuation charges reflect its dominant position in the industry, said the brokerage. Decline in Coal India’s valuation coincides with a fall in valuations of coal mining companies globally and the recent announcement by mining companies to exit coal production have raised questions on the sustainability of coal, and continued government divestment may be an overhang in the near-term, added the brokerage.
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