Coal India, the world's largest coal miner, reported on
Friday a 19 percent increase in quarterly profit, helped by strong sales and
better prices, but narrowly missed market expectations.
The state-run miner said September quarter net profit rose
to Rs 30.8 billion (Rs 3,080 crore) from Rs 25.9 billion (Rs 2,590 crore) a
year earlier. Net sales rose 11 percent to Rs 145.7 billion (Rs 14,570 crore).
Analysts on average had forecast a net profit of Rs 32.2
billion (Rs 3,220 crore), according to a Reuters poll of brokerages.
Shares in Coal India, valued at USD 40.7 billion, closed 0.7
percent lower, before the earnings announcement, in a Mumbai market down nearly
1 percent. The stock has gained nearly 16 percent so far this year.
Source: www.moneycontrol.com
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DENIP Consultants Pvt Ltd
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