November 12, 2018 / 2:49 PM / a month ago

Coal India's second-quarter profit jumps eight-fold as output rises

A worker shovels coal in a supply truck at a yard on the outskirts of Ahmedabad, October 25, 2018. REUTERS/Amit Dave/Files

(Reuters) - Coal India Ltd's quarterly profit jumped more than eight-fold as the world's biggest coal miner produced more of the dry fuel, but profit fell slightly below analysts' expectations, its financial results showed on Monday. reut.rs/2DzZNjp

Net profit climbed to 30.85 billion rupees ($423.2 million) in the second fiscal quarter ended Sept. 30, from 3.71 billion rupees a year earlier, the Kolkata-based state-owned company said in a statement.

Twelve analysts on average had expected a profit of 30.93 billion rupees, according to IBES data from Refinitiv.

Coal India’s revenue from operations surged 22.3 percent to 221.98 billion rupees, while coal production rose 10.6 percent to 256.5 million tons.

($1 = 72.9000 Indian rupees)

Reporting by Krishna V Kurup in Bengaluru; Editing by Sai Sachin Ravikumar

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