Coal India Q3 profit surges 50% to Rs 4,567 crore on higher production

Its profit for the three months to December reached Rs 4,567 crore ($646.5 million), compared with Rs 3,043 crore a year earlier

Coal India Ltd, the world's biggest coal miner, reported a 50.1 percent jump in third-quarter profit on Tuesday as it benefited from higher coal production.

Its profit for the three months to December reached 45.67 billion Indian rupees ($646.5 million), compared with 30.43 billion a year earlier, the company said.

The figure beat analysts' average estimate of 40.69 billion rupees in profit, according to Refinitiv Eikon data.

Quarterly coal production rose 2.6 percent year-over-year to 155.97 million tonnes.