Coal India e-auction revenue falls 7% in Q1 fy’25 amid higher sales
Coal India Limited (CIL) reported a 7% drop in e-auction revenue for Q1 FY’25, totaling ₹5,589 crore, down from ₹6,023 crore in the same quarter last year. This decline occurred despite a 37% increase in e-auction volume, which rose to 23.18 million tonnes from 16.10 million tonnes in Q1 FY’24, due to lower auction prices.
The average e-auction rate fell sharply by 35% to ₹2,411 per tonne, compared to ₹3,740 per tonne in April-June 2023. This decrease is attributed to lower demand from the power sector and strong global prices for dry fuel last year, which had driven higher e-auction prices.
Additionally, the average realization for Fuel Supply Agreement (FSA) coal decreased slightly to ₹1,524 per tonne from ₹1,536 per tonne in the same period last year. Over 85% of Coal India’s coal is sold through long-term FSAs, primarily to the power sector at affordable prices.
Despite these challenges, Coal India reported a 4% rise in consolidated net profit to ₹10,943 crore for Q1 FY’25, up from ₹10,498 crore in the previous year. Revenue from operations also saw a marginal increase to ₹36,465 crore from ₹35,983 crore in Q1 FY’24.
