Better average realisation and lower expenses have helped Coal India to post a 148 per cent growth in net profit in 2018-19. Net profit during the year was Rs 17,462.18 crore compared with Rs 7,038.44 crore in the previous year.

Revenue from operations during the year was Rs 99,546.86 crore compared with Rs 86,650.37 crore in 2017-18.

The PSU lowered its total expenses by Rs 2,559.78 crore, with employee benefit expenses coming down.

“Better average realisation in both fuel supply agreement (FSA) and e-auction sales coupled with operational cost control propelled the company to its best ever performance,” a Coal India official said. The official said they had also managed to keep slippages in quality to a large extent.

Average realisation per tonne of coal in FSA sales during the fiscal witnessed an 8 per cent increase to Rs 1,348 from Rs 1,243 previous year. Overall average realisation per tonne of coal went up to Rs 1,529 during the year compared with Rs 1,398 a year ago.

For the January-March quarter, net profit was Rs 6,024.23 crore compared with Rs 1,302.63 crore in the previous year.

Revenue from operations during the quarter was at Rs 28,546.26 crore, up 7.5 per cent from Rs 26,547.58 crore in the corresponding quarter of the 2017-18.

The average realisation of coal including raw, washed (coking and non-coking) and other by-product during the March quarter was at Rs 1,634 per tonne.