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
- UPDATE 5-GM to drop Chevy brand in Europe to focus on Opel
- Google's mystery barge in San Francisco Bay under investigation
- South Africa, world mourn "giant for justice" Mandela
- UPDATE 3-Gunmen kill U.S. teacher in Libya's Benghazi
- Delhi's rubble-strewn Connaught Place mirrors Congress' election struggle
South African anti-apartheid hero Nelson Mandela died aged 95 at his Johannesburg home on Thursday after a prolonged lung infection, plunging his nation and the world into mourning for a man hailed by global leaders as a moral giant. Article | Obituary