On a consolidated basis, the net profit of Coal India zoomed to Rs 6,043.99 crore in the second quarter of FY23 from Rs 2,932.73 crore in the second quarter of FY22. During the quarter, net sales increased by 29 per cent to Rs 27,538.59 crore.

The raw coal production rose by 11 per cent to 139.228 million tons, and coal offtake improved by 5 per cent to 154.533 million tons in the second quarter of FY23 over the second quarter of FY22.

The average price realization in Q2FY23 was Rs 1,781.31 per ton compared to Rs 1,447.98 per ton in Q2FY22, registering a growth of 23 per cent on a YoY basis.

Total expenses rose by 16 per cent to Rs 23,770.12 crore in the second quarter of FY23 from Rs 20,424.52 crore in Q2 FY22. Profit before tax (PBT) in Q2 FY23 stood at Rs 7,687.48 crore, up by 2.1x from Rs 3,643.24 crore in the second quarter of FY22.

The company has to engage in the production and sale of coal. During the second quarter, the Government of India (GOI) held a 66.13 per cent stake in the company.

On the Bombay Stock Exchange (BSE), the stock rose 1.42 per cent to end at Rs 249.50.