Coal India Ltd (CIL) has reported a net loss of 52% in profit earned at the end of the fourth quarter of FY18. Consolidated profit during the Q4 FY18 stood INR 1295.34 Crore as against INR 2718.80 Crore in Q4 FY17.
CIL had yielded a sum of INR 25,108.69 Crore during Q4 FY18 from the sales of 159.6 MnT coal, which was 4.51% higher on the year from INR 24,025.04 Crore in Q4 FY17. Total income of the company stood INR 28,909.32 Crore during Q4 FY18 against INR 26,633.89 Crore in Q4 FY17.
However, an increased payout to employees had dragged down CIL’s profit, as the company had incurred total expense of INR 27,757.18 Crore during Q4 FY18, 24% higher on the year from INR 22,352.75 Crore in Q4 FY17.
During Q4 FY18, the company has paid a sum of INR 16,653.86 Crore towards Employee Benefit Expense, which was 80% more than the sum of INR 9240.67 Crore paid in Q4 FY17.
CIL had finalised the revision of wages of non-executive employees under the National coal wage Agreement-X on 10 Oct’18. Accordingly, the wages of the non-executive employees for the quarter ended on Dec’17 and Mar’18 had been paid on the revision basis.
Further, employee benefit expenses for the quarter ended on Mar’18 includes INR 7384.37 Crore towards increase in gratuity ceiling from INR 10 Lakh to INR 20 Lakh w.e.f 29 Mar’18 vide amendment in Payment in Gratuity Act, 2018.
Consolidated Statement of Coal Sales in Q4 FY18
| Particulars | Quantity | Net Sales | Avg Realisation |
| FSA | 126.38 | 17736 | 1403 |
| E-Auction | 29.27 | 6181 | 2112 |
| Total Raw Coal | 155.65 | 23917 | 1537 |
| Washed (Coking) | 0.62 | 471 | 7597 |
| Washed (Non-coking) | 2.5 | 441 | 1764 |
| Total Washed Coal | 3.12 | 912 | 2923 |
| Other By Product | 0.83 | 280 | 3373 |
| Total | 159.6 | 25109 | 1573 |
Source: CIL
Quantity in MnT
Sale in INR Crore
Ang Realisation in INR/MT
CIL’s Consolidated Report for FY18
Sustained demand for coal in the country had helped CIL to achieve its highest ever coal production and offtake during FY18. Coal production had increased 2.4% Y-o-Y to 567.37 MnT in FY18, while coal offtake during the same period was marked 6.8% higher on the year at 580.28 MnT.
During the FY18, CIL had revised the pit head Run-of-Mine (ROM) prices of all grades of non coking coal on 9 Jan’18. The company had also imposed a charge of INR 50/MT on all dispatch except through rapid loading arrangement.
These provisions had yielded CIL a gross sale of INR 127,162.17 Crore in FY18 against INR 122,286.96 Crore in FY17, registering an increase of 3.98% on the year-on-year basis. Total profit earned was marked 24% lower on the year at INR 7020.22 Crore during FY18.
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