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Coal India trades higher ahead of Q1 results; here’s what to expect

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NEW DELHI: Shares of Coal India were trading marginally in the green in early trade on Tuesday ahead of its financial results for the quarter ended June 30.

Brokerage firm Prabhudas Lilladher believes that the coal major may post 20.50 per cent year-on-year (YoY) rise in adjusted net profit on 2.50 per cent and 19.50 per cent increase in sales and EBITDA, respectively, in June quarter.

However, it sees 24.30 per cent and 13.60 per cent fall in adjusted net profit and sales on QoQ basis.

“Coal dispatches are expected to fall 6.2 per cent QoQ to 153.4 million tonnes on the back of higher base.

Realisations are expected to fall 8.3 per cent or Rs 135 per tonne on QoQ basis.

Due to lower volume and weak realisations, EBITDA per tonne is expected to decline 12.2 per cent QoQ to Rs 441,” it said in a report. Kotak Institutional Equities projected 15.20 per cent YoY rise in net profit for Coal India in Q1FY20.

On the other hand, it sees 27.70 per cent QoQ dip in net profit. “Absence of volume growth with dispatches of 153 million tonne in Q1FY20 will likely lead to subdued earnings performance,” Kotak said. The scrip was up 0.30 per cent at Rs 208.25 at around 9.55 am (IST), while the benchmark BSE Sensex was down 223 points, or 0.60 per cent, at 37,358 at around the same time.




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