Coal India reported its Q2 results late on Friday after market close.

What Happened: The PSU company’s net profit declined 21.8% year on year to ₹6,289.1 crore. While its revenue declined 6% to ₹30,672.88 crore. In the previous year, the company had a net profit of ₹68,13.5 crore and ₹32,776.4 crore revenue.

The numbers missed the analysts’ estimates of ₹6,657.1 crore net profit and ₹31,832.82 crore revenue.

The company also declared an interim dividend of ₹15.75 per share. The company has set November 5 as the record date and the dividend will paid on November 24.

See Also: Ola Electric Shares Dip 3% On Friday, Hovering Close To IPO Price

Coal India's production in September declined 1% to 50.9 million tonnes. On the other hand, the total coal output from April to September increased 2.5% to 341.3 million tons. 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: Shares of Coal India closed 3.62% down to ₹459.95 on Friday.

Read Next: IndiGo Swings To Q2 Net Loss Of ₹986.7 Cr, Misses Estimates By Huge Margin