Led by increased prices of coal amid lower provisioning for future expenses, Coal India posted a 50 per cent increase in its net profit at Rs 4,566.74 crore for the quarter ended December 31, 2018, beating Street estimates. The company’s net income grew 12.58 per cent to Rs 23,385.43 crore, despite the firm offering lower quantity at e-auctions.
The net profit and net sales stood at Rs 3,042.91 crore and Rs 20,772.23 crore, respectively, in the third quarter (Q3) of the last financial year. Analysts were expecting the mining mammoth to post a profit of around Rs 4,060 crore.
