Coal India Q3 Net Profit Up 9%, Beats Estimates
February 14, 2013 12:36 AM EST
Coal India Ltd (COAL.NS), the world's largest coal miner, posted a 9 percent increase in quarterly profit, beating market expectations, helped by strong sales volumes and lower-than-expected rise in costs.
The state-run miner said its October-December net profit rose to 43.95 billion rupees from 40.40 billion a year earlier. Net sales rose 13 percent to 173.25 billion rupees.
On average, analysts had forecast net profit of 40 billion rupees, according to Thomson Reuters Starmine data.
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