Coal India shares extended gains on Thursday
a day after the state-run mining company posted better than estimated financial results for the April to June 2022 quarter
with its profit shooting up 2.7 times.
Coal India shares rose almost 3 percent in early deals
were trading 0.45 percent higher at Rs 220.85 on BSE at 9:57 am.
However, the shares turned flat shortly after.
The company’s consolidated net profit shot up 178 percent on a year-on-year
The company’s consolidated net profit shot up 178 percent on a year-on-year
basis to Rs 8,834 crore for the first quarter of 2022-23 on higher sales
The firm posted a net profit of Rs 3,174 crore in the same quarter last year.
beating CNBC-TV18 poll projection of Rs 6,301 crore.
The miner’s revenue jumped almost 39 percent to Rs 35,092 compared to last fiscal year's first quarter.
The analysts polled by CNBC-TV18 had estimated the figure to come in at Rs 31,515 crore.
In a regulatory filing on Wednesday,
the firm said that its sales were 39 percent higher at Rs 32,498 crore during the quarter under review, as against Rs 23,293 crore registered in the corresponding period of FY22.