If the data supplied by the Coal India Ltd are to be believed,it has registered a whopping nine percent increase in its fiscal-third-quarter net profit.
This was achieved mainly due to higher output and supplies of coal,according to the CIL’s data.
Net profit for the three months to Dec. 31 rose to 43.95 billion rupees ($816 million) from 40.38 billion rupees a year earlier, the world’s largest coal producer said. Sales rose 13% to 173.25 billion rupees.
The average of estimates in a poll of 12 analysts was for a net profit of 42.20 billion rupees on sales of 168.93 billion rupees.
“The results meet our expectations,” Chairman S. Narsing Rao told the CNBC-TV18 new channel. “We will continue to work on improving coal supplies.”