Coal India, country’s fourth largest company by market, has reported it's highest ever, rise in net profit
to 8% to 44.69 billion rupees for April-June. This is in comparison to the figures last
year. The company’s net sales rose to 13.8 per cent touching 165 billion rupees. Coal India Ltd Qtrly results showed better-than-expected rise in earnings, which may prove helpful in boosting sentiments for stock,
which already has risen to 16% so far.
Coal India, producer of nearly 80% of the supply in India, has struggled hard to increase
the output in view of problems pertaining to regulatory approval and swift environmental
control. The company is under pressure by government to increase the supply in order to
deal with the shortage which has been the reason behind slowing down of many power
plants.
Bowing to the condition set by the government, Coal India has agreed to supply
minimum of 80 per cent coal required for new 48 power projects. The company has
reported that it produced 102.5 million tonnes of coal in the fiscal year in comparison to
96.3 million tonnes in the last year. There is a 6.3% rise in shipments to 113.04 million
tonnes. Coal India NSE shares are hoped to rise and traders are definitely looking up on a bullish trend!
to 8% to 44.69 billion rupees for April-June. This is in comparison to the figures last
year. The company’s net sales rose to 13.8 per cent touching 165 billion rupees. Coal India Ltd Qtrly results showed better-than-expected rise in earnings, which may prove helpful in boosting sentiments for stock,
which already has risen to 16% so far.
Coal India, producer of nearly 80% of the supply in India, has struggled hard to increase
the output in view of problems pertaining to regulatory approval and swift environmental
control. The company is under pressure by government to increase the supply in order to
deal with the shortage which has been the reason behind slowing down of many power
plants.
Bowing to the condition set by the government, Coal India has agreed to supply
minimum of 80 per cent coal required for new 48 power projects. The company has
reported that it produced 102.5 million tonnes of coal in the fiscal year in comparison to
96.3 million tonnes in the last year. There is a 6.3% rise in shipments to 113.04 million
tonnes. Coal India NSE shares are hoped to rise and traders are definitely looking up on a bullish trend!
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