DelhiDesk Coal India has announced its Q4 results for the financial year 2022-23, reporting a net profit decline of 18% to Rs 5,528 crore due to higher provisioning for employee wage revision. However, for the entire financial year, the company’s profit saw a jump of 62% to Rs 28,125 crore. The company’s revenue from operations in Q4 FY23 stood at Rs 38,152 crore, indicating a 17% YoY growth. Coal production increased by 7% to 224.1 million tonnes in the March 2023 quarter. The company has declared a final dividend of Rs 4 per equity share for its shareholders. Coal India has started talks with employee unions for wage revision, with workers demanding a 47% hike in salary while the company has offered a 3% increment.
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👉 Coal India announces Q4 results for FY22-23
👉 Q4 net profit declined by 18% to Rs 5,528 crore due to higher provisioning for wage revision
👉 FY23 profit saw a jump of 62% to Rs 28,125 crore, compared to Rs 17,378 crore in FY22
👉 Revenue from operations in Q4 FY23 increased by 17% to Rs 38,152 crore
👉 Coal production increased by 7% to 224.1 million tonnes in Q4 FY23
👉 Sales for Q4 FY23 increased to Rs 35,161.44 crore
👉 Company declares a final dividend of Rs 4 per share for shareholders
👉 Provision of Rs 5,870.16 crore made in Q4 to finalize wage settlement with unions
👉 Provision of Rs 8,152.75 crore made for entire FY23 for wage settlement, compared to Rs 1,080.97 crore in FY22.
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