Coal India Q4 net profit up 35 percent, beats estimates

Source : REUTERS
Last Updated: Mon, May 27, 2013 11:53 hrs
Laborers work in a railway coal yard on the outskirts of the western Indian city of Ahmedabad

Coal India, the world's largest coal producer, posted a 35 percent rise in its fourth-quarter profit, beating market expectations, helped by strong sales and lower-than-expected costs.

The state-run miner said its January-March net profit rose to 54.14 billion rupees ($974 million) from 40.13 billion rupees a year earlier. Net sales rose 2.5 percent to 199.05 billion rupees.

On an average, analysts had forecast a net profit of 49.97 billion rupees, according to Thomson Reuters Starmine data. The company's financial year ended on March 31.

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