Bharat Coking Coal Posts Q1 FY27 Net Loss of ₹68.09 Crore as Production and Revenue Soften

Public sector coal mining enterprise and Miniratna entity Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India Limited, has released its unaudited financial and operational results for the first quarter ended June 30, 2026 (Q1 FY27).

The state-owned coking coal producer reported a net loss of ₹68.09 crore for the quarter, facing pressure from reduced raw coal output, lower operational revenues, and elevated operating costs compared to the same period in the previous financial year.

Top-Line and Revenue Performance

Bharat Coking Coal registered a top-line contraction during the April–June 2026 quarter:

Revenue from Operations: Stood at ₹3,587.27 crore in Q1 FY27, reflecting a 3.6% year-on-year drop compared to ₹3,719.59 crore in Q1 FY26. On a sequential basis, revenue grew by 9.3% from ₹3,282.95 crore in Q4 FY26.

Other Income: Recorded at ₹135.97 crore, down sharply from ₹182.20 crore in Q1 FY26 and ₹556.55 crore in Q4 FY26.

Total Income: Reached ₹3,723.24 crore for Q1 FY27, down 4.6% year-on-year against ₹3,901.79 crore in the corresponding quarter of the previous fiscal year.

Profitability and Margin Highlights

Surging expenses relative to gross income pushed the coking coal miner into negative territory before tax adjustments:

Profit Before Tax (PBT): BCCL slipped into a pre-tax loss of ₹103.07 crore for Q1 FY27, down from a profit before tax of ₹247.40 crore in Q1 FY26 and a profit of ₹18.94 crore in Q4 FY26.

Tax Expense / Credit: The company reported a net tax credit of ₹34.98 crore (entirely on account of deferred tax), compared to a total tax expense of ₹70.53 crore in Q1 FY26.

Net Profit After Tax (PAT): Reported a net loss of ₹68.09 crore for the quarter (attributable to owners of the company), compared to a net profit of ₹176.87 crore in Q1 FY26 and ₹27.28 crore in Q4 FY26.

Total Comprehensive Income: Registered a loss of ₹40.69 crore for Q1 FY27 (after accounting for ₹27.40 crore in other comprehensive income), compared to a total comprehensive income of ₹143.77 crore in Q1 FY26.

Earnings Per Share (EPS): Basic and diluted EPS for the quarter stood at ₹(0.15) per equity share of face value ₹10/- each (not annualized), compared to ₹0.38 in Q1 FY26 and ₹0.06 in Q4 FY26.

Operational Performance: Raw Coal Output and Offtake

Physical operational metrics for raw coal production and dispatch reflected a moderation in mining output:

Raw Coal Production: Dropped to 6.56 million tonnes in Q1 FY27, registering a 27.4% year-on-year decline from 9.04 million tonnes produced in Q1 FY26. Production also scaled back from 10.87 million tonnes reported in the preceding quarter (Q4 FY26).

Raw Coal Offtake: Stood at 7.72 million tonnes for Q1 FY27, down 14.0% year-on-year from 8.98 million tonnes dispatched in Q1 FY26, though up 6.9% sequentially compared to 7.22 million tonnes in Q4 FY26.

Expense Summary Breakdown

Consolidated total expenses for Q1 FY27 stood at ₹3,826.31 crore, compared to ₹3,654.39 crore in Q1 FY26 and ₹3,820.56 crore in Q4 FY26:

Employee Benefits Expense: Formed the single largest expense category at ₹1,553.80 crore (vs. ₹1,614.22 crore in Q1 FY26).

Other Expenses: Stood at ₹1,232.89 crore (vs. ₹1,088.56 crore in Q1 FY26).

Contractual Expenses: Accounted for ₹917.57 crore (vs. ₹1,061.69 crore in Q1 FY26).

Changes in Finished Goods/Work-in-Progress Inventories: Recorded a cost item of ₹173.50 crore (vs. a credit of ₹(62.63) crore in Q1 FY26).

Cost of Materials Consumed: Stood at ₹153.72 crore (vs. ₹146.94 crore in Q1 FY26).

Depreciation, Amortization & Impairment: Rose to ₹126.24 crore (vs. ₹99.67 crore in Q1 FY26).

Finance Costs: Stood at ₹48.33 crore (vs. ₹26.21 crore in Q1 FY26).

Stripping Activity Adjustment: Provided a credit adjustment of ₹(379.74) crore (vs. ₹(320.27) crore in Q1 FY26).

Capital Structure

Paid-Up Equity Share Capital: Remained unchanged at ₹4,657.00 crore (consisting of equity shares with a face value of ₹10/- each).

Other Equity: Stood at ₹1,121.80 crore as of March 31, 2026.

Shares of Bharat Coking Coal Limited was last trading in BSE at Rs. 37.50 as compared to the previous close of Rs. 37.22. The total number of shares traded during the day was 684789 in over 1286 trades.

The stock hit an intraday high of Rs. 37.80 and intraday low of 37.13. The net turnover during the day was Rs. 25643319.00.

Source : Equity Bulls

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