Last Updated on Mar 2, 2022 by Ayushi Mishra

Coal India jumped as much as 7% on 2 March 2022 after the firm released its February preliminary offtake and production figures. On the same day, the stock was the highest gainer on the Nifty 50.

Coal India’s stock has been on the rise for the past 3 days, rising ~19% in that time. It is trading above its 5-, 20-, 50-, 100-, and 200-day moving averages.

Coal output in February increased by 4% y-o-y, while production in April 2021-February 2022 increased by 5% y-o-y.

Meanwhile, offtake increased by 12% y-o-y in the reporting month, and by almost 17% y-o-y in April 2021-February 2022.

On the strength of greater income from operations, Coal India recorded a near 48% increase in consolidated net profit to Rs. 4,558.39 cr. for the quarter ended December 2021. In the previous fiscal year (FY 2020), the PSU’s consolidated net profit was Rs. 3,085.39 cr.

From October through December, the company’s consolidated revenue from operations grew ~20% to Rs. 28,433.50 cr., up from Rs. 23,686.03 cr. the previous year.

Ayushi Mishra

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