Coal India Ltd on Wednesday reported almost three-fold rise in consolidated net profit at Rs 8,832.86 crore for June quarter 2022-23 on the back of higher sales.

The company had posted a net profit of Rs 3,169.86 crore in the year-ago period, Coal India Ltd (CIL) said in a filing to BSE.

Revenue from operations during April-June period increased to Rs 35,092.17 crore from Rs 25,282.75 crore in the year-ago quarter.

Net sales in the first quarter rose to Rs 32,497.9 crore from Rs 23,293.65 crore earlier.

The company’s output in April-June period increased to 159.75 million tonne (MT) from 123.98 MT in the corresponding quarter of previous fiscal.

Coal India accounts for over 80 per cent of domestic coal output. The company is eyeing one billion tonne of production by 2023-24.

Shares of the company settled at Rs 219.85 apiece on BSE, up 2.02 per cent from the previous close. PTI SID SID ANU ANU

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