Shares in Datong Coal jump 10 percent on Q1 profit
BEIJING, April 29
BEIJING, April 29 (Reuters) - Shares in Datong Coal Industry Co Ltd jumped 10 percent in Shanghai, their biggest one-day gain in nine months, after the company reported a first-quarter profit.
Datong Coal posted on Monday a 1.04 billion yuan ($166.32 million) profit in the first quarter.
The company reported a net loss of 1.4 billion yuan last year, hit by sharp falls in thermal coal prices. Datong Coal, which focuses on coal mining, washing, processing and distribution, had a 62.6 million yuan profit in 2012. ($1 = 6.2530 Chinese Yuan) (Reporting by Natalie Thomas; Editing by Ryan Woo)