Coal India Q2 net up 19 pct, narrowly misses estimates
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)
- Tweet this
- Share this
- Digg this
- Alibaba surges 38 pct on massive demand in market debut
- UPDATE 3-Ebola lockdown brings Sierra Leone capital to a halt
- Eight bodies found after attack on Guinea Ebola education team
- UPDATE 9-Scots spurn independence in historic vote, devolution battle begins
- Scots spurn independence in historic vote, devolution battle begins
India has capped the prices of 36 drugs, including those used to treat infections and diabetes, in its latest move to make essential medicines more affordable, a senior official of the country's drug pricing authority told Reuters on Friday. Full Article
Top rice exporter India importing over 100,000 T on temporary supply squeeze. Full Article