The growth was led by lower coal offtake as power demand moderated amidst a prolonged spell of monsoon and an increased share of renewables in power generation.
Profit before tax tanked 19.67% to Rs 9,472.61 crore in Q3 FY26, as against Rs 11,792.42 crore in Q3 FY25.
During the quarter, total expenses stood at Rs 28,132 crore in Q3 FY26, up 3.12% from Rs 27,280.39 crore posted in Q3 FY25. The cost of material consumed was at Rs 2,805.34 crore in Q3 FY26, down 2.42% from Rs 2,874.79 crore posted in Q3 FY25. While employee benefits expenses stood at Rs 13,719.77 crore (up 26.4% YoY), finance costs stood at Rs 320.73 crore (up 42.21% YoY) during the quarter.
The company reported production of 200.05 million tonnes (MT) in Q3 FY26, down 1% YoY from 202.02 MT in Q3 FY25. Coal offtake also declined 3% YoY to 188.66 MT, compared with 194.53 MT in the corresponding quarter last year. The miner's average realisation from e-auction sales stood at Rs 2,434.56 per tonne, lower than the Rs 2,684.79 per tonne in the year-ago period, while the overall average price realization of coal supplied during the quarter fell by Rs 29 from a year ago to Rs 1,638 per tonne, its earnings' filing showed.
Meanwhile, the state-owned producer announced their third interim dividend in the ongoing financial year of Rs 5.50 per equity share. The company has also set Wednesday, February 18, as the record date to determine the eligibility of shareholders for the dividend payout. The dividend will be paid on or before Friday, March 13.
Coal India is mainly engaged in mining and production of coal and also operates coal washeries. The major consumers of the company are the power and steel sectors. Consumers from other sectors include cement, fertilizers, and brick kilns.
Shares of Coal India shed 0.97% to Rs 415.05 on the BSE.