MUMBAI Coal India Ltd, the world's biggest coal miner by output, reported a higher-than-expected 14 percent rise in its consolidated quarterly net profit on higher sales.
Net profit rose to 37.18 billion rupees ($544.36 million) in the fiscal third quarter to Dec. 31 from 32.62 billion rupees a year earlier, the company, majority owned by the Indian government, said in a statement on Thursday.
Analysts on average had expected a net profit of 31.97 billion rupees, according to data compiled by Thomson Reuters.
Consolidated net sales in the December quarter rose 6.8 percent from a year earlier to 189.71 billion rupees as despatches rose 10.7 percent.
($1 = 68.3000 Indian rupees)
(Reporting by Promit Mukherjee; Editing by Anupama Dwivedi)
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Published Date: Feb 12, 2016 01:30 am | Updated Date: Feb 12, 2016 01:30 am