CIL dividends, buybacks to draw Rs 19,000 crore for government


CIL dividends, buybacks to draw Rs 19,000 crore for government

Coal India will fetch the Centre around Rs 19,000 crore on account of dividends paid and shares sold through various modes by the end of 2018-19 — almost double that of last year.

The dry fuel supplier, however, grew its reserves to Rs 28,000 crore from Rs 18,000 crore. “Handsome profits made in the last three quarters have helped increase the reserves despite handsome returns to the government,” a Coal India executive said.
In the nine months ending December 2018, Coal India recorded a 2.8-fold rise each in total comprehensive income and net sales to Rs 11,518 crore and Rs 66,192 crore, respectively.

According to the executive, the company will pay the government Rs 9,155 crore this year on account of two rounds of dividend and a buyback. Read More

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