Coal India is set to report its September quarterly results on Friday.

What Happened: Coal India is expected to report a net profit to decline by 2% year on year to ₹6,657.1 crore, according to an average of estimates from five brokerages. The company’s revenue is expected to come in at ₹31,832.82 crore — which would also reflect a 2% decline. The EBITDA is expected to come in at ₹8,972.12 crore, a 10% increase from the previous year.

In the corresponding quarter of the previous year, Coal India had a net profit of ₹68,13.5 crore and ₹32,776.4 crore revenue.

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The analysts expect the numbers on weaker coal production by the company. According to Antique Broking, Coal India likely mined 152 million tonnes in the September quarter, down 3% year on year. The offtake was also down 4% year on year to 166 million tonnes.

Elara Securities attributed the decline in coal production to moderation in power demand. The eAuction premium also probably declined from 312% in July 2022 to 46% in August, according to the research firm.

Coal India’s production in September fell 1% to 50.9 million tonnes. On the other hand, the total coal output from April to September declined to 54.4 MT from 55.2 MT. The company also announced a joint venture with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) to enter the renewable energy business in Rajasthan.

Price Action: Coal India’s shares fell 3.09% to ₹462.50 on Friday morning ahead of the results.

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