Coal India Q2 Results: Profit Up 53% to ₹6,516 Crore, ₹10.25 Dividend (October 29)

Coal India Q2 results landed after the closing bell on Thursday, October 29, and the headline is a big one: consolidated net profit rose 53% year-on-year to ₹6,516 crore for the July-September quarter of FY27, against ₹4,258.8 crore a year earlier, CNBC-TV18 reported. The board also cleared a second interim dividend of ₹10.25 a share. Dig a little deeper, though, and the operating numbers tell a more mixed story.

Coal India Q2 results: the key numbers

• Net profit: ₹6,516 crore, up 53% from ₹4,258.8 crore in Q2 FY26. That was ahead of the ₹6,418 crore estimate in the CNBC-TV18 analyst poll.
• Revenue from operations: ₹44,179 crore, up 20.9% from ₹36,553 crore, and well above the poll estimate of ₹41,602 crore.
• EBITDA (operating profit): ₹8,499 crore, up 28.9% from ₹6,593 crore, but short of the ₹9,220 crore the poll expected.
• EBITDA margin: 19.2%, up from 18% a year ago, yet below the 22.2% analysts had pencilled in.

We cross-checked the profit, revenue and EBITDA figures against Upstox’s results report, which puts the margin more precisely at 19.24% versus 18.04%. For the first half (April-September), Upstox reports net profit of ₹15,368 crore, up 18% from ₹13,056 crore, and revenue of ₹90,434 crore, up 14% from ₹79,472 crore.

Second interim dividend and record date

The ₹10.25 per share payout is the company’s second interim dividend for FY27, on shares with a face value of ₹10. The record date is Wednesday, November 4, 2026, so you need to be on the register that day to qualify. Payment is due on or before November 27, 2026. Coal India has long been a staple in dividend-focused and PSU portfolios, and this keeps that story intact. If you track state-run names through a basket, our explainer on the CPSE ETF covers how such funds hold them.

Profit beat, margin miss: why both matter

Here’s the thing. A 53% jump in profit sounds like a blowout, and on revenue the company clearly did better than the Street expected. But EBITDA came in about ₹700 crore below the poll number, and margins missed by roughly three percentage points. In plain terms, Coal India sold more than expected, but kept less of each rupee at the operating level than analysts hoped.

The stock had closed at ₹393.50 on the BSE on Thursday, up 0.15%, before the numbers came out, according to CNBC-TV18. Friday’s session will be the first real reaction.

Production is still the number to watch

Volumes are where the debate sits. Coal India produced 321 million tonnes between April and September, 2.5% lower than the 329.1 million tonnes of the same period last year. That is roughly 39% of its 815 million tonne target for the full year, which leaves about 494 million tonnes to mine in the second half.

There are signs of a turn. September production rose 9.2% to 53.5 million tonnes from 49 million tonnes, and output usually picks up once the monsoon is out of the way. Offtake, meaning coal actually supplied to customers, did better through the half, rising 7.6% to 384.2 million tonnes from 357 million tonnes. September offtake alone was up 12.5% at 61.2 million tonnes. With offtake running ahead of production, the company has been drawing down stock; it had outlined plans in May to bring inventory down to 95 million tonnes from 130 million tonnes.

What it means for investors

For income investors, the dividend and the record date are the practical takeaway. For everyone else, the second half matters more than this quarter. If production does not catch up with the annual target, volume growth could slow even if power demand holds. We’d watch the monthly production and offtake updates closely over the next few months. Our earlier note on subsidiary BCCL’s Q2 results gives some group context, and our Q2 results calendar for this week lists the other big names reporting.

Disclaimer: This article is for information and education only and is not investment advice. Please do your own research or consult a SEBI-registered adviser before making any investment decision.