Coal India Ltd, the world’s largest state-owned miner on Tuesday declared a second interim dividend of Rs 5.25 per share on Tuesday. The Board of Directors announced in a BSE filing, along with Cola India Q3 FY23 results.
The Board of Directors of Coal India has fixed the record date interim dividend for Wednesday, February 8th, 2023.
“Coal India’s Board of Directors at its meeting held on date has inter alia, declared 2nd Interim Dividend for the financial year 2022-23 @ Rs.5.25 per share of the face value of Rs 10/- as recommended by the Audit Committee of CIL at its meeting held on date. Coal India has fixed Wednesday, 8th Feb’ 2023 as the “Record Date” for the purpose of declaration of 2 nd Interim Dividend on equity shares for the Financial year 2022-23. The date of payment of “2nd Interim Dividend” shall be within 2nd March’23,” Coal India informed exchanges on its dividend.
Coal India also reported bumper earnings result for the third quarter (Q3) of the financial year 2022-23 (FY23), with a consolidated net profit of Rs 7,755.55 crore, a significant increase of 70% YoY from Rs 4,558.39 crore in the same quarter previous fiscal.
The company’s revenue from operations also saw growth, reaching Rs 35,169 crore during the quarter, compared to Rs 28,433 crore in the same period of the previous year. The profit before tax (PBT) for Q3 of FY23 stood at Rs 10,593.68 crore, up 68% YoY.
Despite an increase in total expenses, which rose to Rs 26,246.44 crore, Coal India’s strong financial performance highlights the company’s continued success in the industry. With the announcement of the 2nd interim dividend and strong Q3 results, Coal India continues to demonstrate its financial stability and ability to provide value to its shareholders.
