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Coal India to post huge jump in Q2 profit to Rs 2,075 crore due to low base

10 November, 2017 1:00 PM
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Coal India to post huge jump in Q2 profit to Rs 2,075 crore due to low base

Coal India is likely to post strong growth of 246 percent in September quarter net profit at Rs 2,075 crore against Rs 600 crore, a CNBC-TV18 poll of analysts has revealed.

Total sales could rise 19.8% at Rs 18,750 crore against Rs 15,645 crore that the firm posted during the last year.

The operating profit could jump 1356 percent at Rs 2550 crore against Rs 175.1 crore. The margin is seen at 13.6 percent against 1.1 percent last year.

Experts highlight that numbers are likely to look very good on a very weak base. In Q2FY17, staff costs were Rs 8,407 crore which is sharply higher than the Rs 7,500 crore to Rs 8,000 crore/q run rate.

Realizations should improve due to coking coal price hike, e-auction realization higher due to shortage of coal and higher international coal prices.

Also read: Kotak invests ₹244 crore in OMR Mall

Source: moneycontrol.com

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