Coal India’s Q4 Net Profit Beats Analysts’ Expectations

Reuters reported that Coal India Ltd.’s (BSE:533278) net profit for the January to March period, the last quarter of its fiscal year, was 54.14 billion rupees, up from 40.13 billion rupees a year ago. That’s also up from the 49.97 billion rupees expected by analysts.

As quoted in the market news:

Net sales rose 2.5 percent to 199.05 billion rupees.

It reported employee expenses of 74.70 billion rupees, compared to 94.66 billion a year ago, which included additional provision of about 23 billion rupees, an official said.

The miner produced 452 million tonnes of coal in 2012/13, up 4 percent from a year earlier, but lower than its 464 million tonne target for the year. Shipments rose 5.8 percent for the fourth quarter to 129.95 million tonnes, the company said.

Click here to read the full Reuters report.