Q2 swings to profit, but first-half profit after tax falls 55%
BHARATCOAL · price
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On the reaction day the stock moved 3.0 pts more than Nifty Smallcap 250 and 3.3 pts more than its Oil Gas & Consumable Fuels peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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For the second quarter, operating revenue rose 39.1% to Rs 4,412.58 crore, helped by higher washed-coal prices and Rs 386.50 crore of performance and compensation income. Profit after tax swung to Rs 123.74 crore from a Rs 52.99 crore loss. In the first half, revenue rose 16.1%, but profit after tax fell 55.1% to Rs 55.65 crore; production dropped 12.5% as costs and finance expenses rose.
Q2's turnaround may support sentiment, but lower first-half profit after tax, weaker output and higher finance costs may limit upside.