Performance above our estimates; strong volume momentum continues

Company
11 Mar 2024
5 Min read 
  • Coal India's 3QFY24 results show strong performance and continued volume momentum.
  •  Revenue rose 3% YoY, in line with estimates, driven by higher volumes and realization.
  •  Adjusted EBITDA increased 6% YoY, beating estimates, due to lower costs.
  •  APAT increased 17% YoY, driven by strong operating performance and lower depreciation.
  •  Coal India declared a second interim dividend for FY24.
  •  Outlook remains positive with increased EBITDA estimates and attractive valuation.
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