Mumbai:
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 3.080 crore from Rs 2,590 crore a year earlier. Net sales rose 11 percent to Rs 14,570 crore.
Analysts on average had forecast a net profit of Rs 3,220 crore, according to a Reuters poll of brokerages.
Shares in Coal India, valued at $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.
Copyright @ Thomson Reuters 2012
The state-run miner said September quarter net profit rose to Rs 3.080 crore from Rs 2,590 crore a year earlier. Net sales rose 11 percent to Rs 14,570 crore.
Analysts on average had forecast a net profit of Rs 3,220 crore, according to a Reuters poll of brokerages.
Shares in Coal India, valued at $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.
Copyright @ Thomson Reuters 2012
