Coal India Ltd.

Coal India has hiked prices of lower grades (G5 to G17), used in thermal power generation, by 10%. However, the company has slashed prices of two premium grade coal (G3 and G4) by 12.5%. This decision was taken by the company’s board of directors, in their meeting held on May 27, 2013. The revised prices will be effective from May 28.

Further, the board reported that due to rationalization of coal prices, there will be approximately additional revenue of Rs 2119.36 crore for the balance period of financial year 2013-14, while the yearly addition revenue would be around Rs 2511.58 crore.

The company’s profit after tax for the January-March period stood at 5,413 crore compared with 4,013 crore a year ago. Net sales for the period stood at 19,904 crore, up 2.4% from the same quarter a year ago.

For the year ended March 31, 2013, the company has posted a rise of 21.44% in its net profit at Rs 9794.32 crore as compared to Rs 8065.10 crore for the same period in the previous year. Total income from operation has surged 20.04% at Rs 11440.26 crore for year under review as compared to Rs 9530.58 crore for the period ended March 31, 2012.