Coal India Q2 FY27 Profit Rises 57% as Revenue Grows

Coal India Limited reported stronger financial performance for the quarter ended September 30, 2026, with revenue from operations rising 21% year on year to ₹44,179 crore. The state-owned coal producer said profit before tax increased 46% to ₹8,728 crore, while profit after tax rose 57% to ₹6,547 crore. The results followed growth in coal supplies and production during September, when power-sector demand remained an important operating driver. The board also declared a second interim dividend for FY27. The earnings release and related disclosures present both standalone and consolidated measures, which differ for some profit and operating metrics. Investors should therefore distinguish between the specific reporting bases when comparing figures.

Quarterly profit shows sharp year-on-year increase

Profit before tax for Q2 FY27 stood at ₹8,728 crore, compared with ₹5,992 crore in Q2 FY26. This represented a 46% year-on-year increase. Profit after tax was reported at ₹6,547 crore, up from ₹4,167 crore a year earlier, a rise of 57%. Revenue from operations increased to ₹44,179 crore from ₹36,553 crore. Sale of product rose 21% to ₹43,724 crore. The figures point to a stronger quarter across sales and earnings measures cited by the company.

Revenue growth supported operating performance

The company reported EBITDA of ₹11,447 crore for Q2 FY27, up 28% year on year. EBITDA as a percentage of revenue from operations improved to 26%, from 24% in the corresponding quarter of the previous year. Separately, disclosures on consolidated results reported operating profit, or EBITDA, of ₹8,499 crore, up 29% from ₹6,593 crore. The consolidated EBITDA margin was stated at 19.24%, compared with 18.04% a year earlier. These differing EBITDA values relate to the reported financial presentation and should not be treated as identical measures. Both sets of disclosures showed year-on-year improvement.

Consolidated income and expenses rise

On a consolidated basis, Coal India reported total income of ₹46,833 crore for the September quarter, an increase of 21%. Expenditure rose 17% to ₹38,398 crore. Tax expense increased 20% to ₹2,181 crore. Consolidated net profit was reported at ₹6,516 crore, up 53% from ₹4,259 crore attributable to owners in the comparable quarter. The gap between total-income growth and expenditure growth was reflected in the higher reported profitability. The company did not provide further drivers for each expense line in the supplied information.

Key Q2 FY27 financial figures

First-half earnings remain higher

For H1 FY27, Coal India reported revenue from operations of ₹90,434 crore, up 14% from ₹79,472 crore in H1 FY26. Profit before tax increased 15% to ₹20,448 crore. Profit after tax rose 19% to ₹15,397 crore. A separate consolidated disclosure put H1 net profit at ₹15,368 crore, compared with ₹13,056 crore, representing 18% growth. The half-year figures indicate that the second-quarter improvement followed a positive first quarter. In Q1 FY27, revenue from operations had been reported at ₹46,254.80 crore, against ₹42,919.20 crore in the year-ago quarter.

Coal supplies and production increase in September

Coal India said coal supplies rose 12.5% in September 2026 to 61.20 million tonnes, from 54.40 million tonnes a year earlier. Supplies to the power sector increased 10.63% to 48.90 million tonnes, compared with 44.20 million tonnes in September of the prior fiscal year. Coal production grew 9.18% to 53.50 million tonnes from 49 million tonnes. These operating data provide context for the increase in sales-linked revenue during the quarter. The figures also show the continued importance of electricity generators to Coal India's supply volumes.

Capital expenditure exceeds first-half plan

The company reported capital expenditure of ₹7,966 crore during April to September FY27. This was 27% higher than the corresponding period cited in the disclosure. Coal India said the spending achieved 109% of the planned outlay for the first half. The information identifies capital deployment as an active part of the company's FY27 operations. No project-wise breakdown of the expenditure was provided in the supplied material. The reported outlay sits alongside the increase in September production and supplies.

Board declares second interim dividend

Coal India's board declared a second interim dividend of ₹10.25 per equity share for FY27. Each equity share has a face value of ₹10. The record date for determining eligible shareholders is November 4, 2026. The company said dividend payment would be made on or before November 27, 2026. The declaration was considered along with the unaudited Q2 and half-year results at the board meeting scheduled for October 29, 2026. Shareholders need to meet the record-date eligibility requirement to receive the dividend.

What the results mean for investors

The quarterly numbers show revenue growth of 21% alongside faster growth in profit before tax and profit after tax. Reported margins also improved under both EBITDA presentations included in the disclosures. Higher September supplies to power-sector customers and higher production are relevant operating indicators because coal sales remain central to the company's revenue base. The 27% increase in first-half capital expenditure also indicates greater spending against the company’s stated plan. However, the supplied information does not provide a share-price reaction, future earnings forecast, or guidance for the remainder of FY27. Comparisons should also account for whether a number is standalone or consolidated.

Outlook based on disclosed milestones

Coal India's Q2 FY27 update combines higher revenue, stronger profits, increased September supplies and a second interim dividend. The next confirmed shareholder milestone is the November 4, 2026 record date for the dividend. Payment is scheduled on or before November 27, 2026. The company has also reported first-half capital expenditure above its planned outlay for the period. Further assessment of FY27 performance will depend on subsequent production, supply, sales and financial disclosures. The available data establishes a stronger year-on-year position for the September quarter and first half.