MUMBAI Nov 9 Coal India, the world's
largest coal miner, reported on Friday a 19 percent increase in
quarterly profit, helped by strong sales and better prices, but
narrowly missed market expectations.
The state-run miner said September quarter net profit rose
to 30.8 billion rupees ($565.1 million) from 25.9 billion a year
earlier. Net sales rose 11 percent to 145.7 billion rupees.
Analysts on average had forecast a net profit of 32.2
billion rupees, according to a Reuters poll of brokerages.
Shares in Coal India, valued at $40.7 billion, closed 0.7
percent lower, before the earnings announcement, in a Mumbai
market down nearly 1 percent. The stock has gained
nearly 16 percent so far this year.
($1 = 54.50 rupees)
(Reporting by Prashant Mehra; Editing by Jijo Jacob)