Coal India Shares Surge 5% on Q3 Profit Rise - Business News
Feb 13, 2024 12:24
Coal India shares jumped 5% after the company reported a 16.9% increase in its net profit for the December quarter, reaching Rs 9,069.19 crore. Read more about the company's financial performance.
New Delhi, Feb 13 (PTI) Shares of state-owned Coal India on Tuesday jumped 5 per cent a day after the company reported a rise in its net profit for the December quarter.
On the NSE, the shares of Coal India Ltd (CIL) climbed 4.81 per cent at Rs 453.60 apiece.
On the BSE, the stock of the company rose 4.72 per cent at Rs 453.50 per piece.
In broader equity markets, the 30-share BSE Sensex advanced 417.75 points or 0.59 per cent to 71,490.24 points, while NSE Nifty rose 0.36 per cent to 21,694.20 points.
In a regulatory filing on Monday, Coal behemoth CIL reported a 16.9 per cent rise in consolidated net profit to Rs 9,069.19 crore for the December quarter.
The company's net profit stood at Rs 7,755.55 crore in the year-ago period, the company said.
Its consolidated revenue from operations in the October-December period increased to Rs 36,153.97 crore from Rs 35,169.33 crore a year-ago, it added.
CIL accounts for over 80 per cent of domestic coal production.
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