Coal India Q2 net up 19 pct, narrowly misses estimates

MUMBAI Fri Nov 9, 2012 5:15pm IST

Stocks

   

MUMBAI Nov 9 (Reuters) - 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 30.8 billion rupees ($565.1 million) from 25.9 billion a year earlier. Net sales rose 11 percent to 145.7 billion rupees.

Analysts on average had forecast a net profit of 32.2 billion rupees, 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. ($1 = 54.50 rupees) (Reporting by Prashant Mehra; Editing by Jijo Jacob)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Canada Shooting

Canada Shooting

Attack on parliament, killing of soldier stun Canada's capital.  Full Article 

Earnings Season

Earnings Season

Wipro sees rosier end to year as U.S. clients spend.  Full Article 

Business Climate

Business Climate

Fears for tough penalties grow as India cleans up business  Full Article 

New Email Service

New Email Service

Google launches new email service dubbed "Inbox".  Full Article 

DLF Appeals

DLF Appeals

DLF seeks interim relief from capital market ban  Full Article 

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Book Keeping

Book Keeping

RBI fires warning shots on companies' lack of FX hedging.  Full Article 

Policy Repo Rate

Policy Repo Rate

Most external members suggested rate cut in RBI's Sept review.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage