Coal India profits plunge 32% as renewables rise
Coal India, India's largest coal producer, just reported a sharp 32.6% drop in profit for July-September 2025—down to ₹4,262 crore (about $494 million) from ₹6,275 crore last year.
Investors weren't thrilled: shares fell nearly 4% on October 29.
Production and shipments drop
Production slipped almost 4%, and shipments dropped too. Auction prices fell by 7%, thanks in part to a big dip in global coal prices.
Even though Coal India managed to keep its average auction price steady at ₹1,621 per ton compared to last year, it couldn't offset the lower volumes and weaker market.
Coal's share in India's energy mix drops
India's total electricity generation grew by nearly 4%, but coal-based power actually shrank by 1%.
Meanwhile, renewables soared—up a huge 22%.
With clean energy rising fast and new competitors entering the scene, Coal India is facing some real pressure to keep up with this shift in how India powers up.