The largest coal miner in the world, Coal India sequentially showed a set of ppor numbers but YoY, the numbers were better for Q2FY13. Net revenue was at Rs.14572 crore, up 11% YoY and down 12% QoQ. Net profit came in at Rs.3078 crore, up 19% YoY and down 31% QoQ. The ‘other income’ component, which is interest income was at Rs.2093 crore and this helped boost the bottomlines substantially. Realisations were also better, up around 2% at Rs.1406/tonne compared to Rs.1376/tonne in Q2FY12. YoY, there was a 11% rise in production at 89.09 MT.

The higher price realization was offset by higher operating costs, which rose 16% (YoY). E-auction was a major contributor to its income and in current Q2, income from E–auction was down as auction prices came down from Rs.2435/tonne to Rs.2282/tonne. The fall in prices was on account of fall in international prices of coal. Also, the company increased 20 MT supplies to fuel supply agreement holders which saw a low demand in e-auction. Employee cost continues to remain its biggest cost outgo, at Rs.6536 crore, it was 54% of total operating cost and ate away 45% of the net revenue. The company hopes to maintain  a 8.5 percent% growth in  off take through FY13 and hopes to touch 470 MT. As at 30th Sept 2012, the company had a reserves of Rs.34,137 crore and cash balance was at a jaw dropping Rs.64,688 crore.