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Coal India inches higher after decent Q3 earnings

Capital Market 

Coal India rose 0.13% to Rs 223.25 at 14:19 IST on BSE after consolidated net profit rose 50.09% to Rs 4566.81 crore on 12.58% rise in net sales to Rs 23385.43 crore in Q3 December 2018 over Q3 December 2017.

The result was announced after market hours yesterday, 12 February 2019.

Meanwhile, the S&P BSE Sensex was up 33.42 points, or 0.09% to 36,187.04.

On the BSE, 5.32 lakh shares were traded in the counter so far compared with average daily volumes of 2.41 lakh shares in the past two weeks. The stock had hit a high of Rs 228 and a low of Rs 220.65 so far during the day. The stock hit a 52-week high of Rs 316.55 on 27 February 2018. The stock hit a 52-week low of Rs 214.40 on 11 February 2019.

The company said its coal production for the first nine months of the ongoing fiscal jumped to 412.44 million tonnes against 383.92 million tonnes in the year ago period.

During the quarter ended 31 December 2018, the government further divested 3.19%, 2.21% and 0.01% of total equity share capital equivalent to 33,59,97,714 number of equity shares by way of placement of shares in Bharat 22 ETF, CPSE ETF and OFS, respectively, and post such divestment, the Centre holds 72.91% of equity share capital, Coal India said.

Coal India (CIL) is the single largest coal producer in the world.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 14:17 IST