Coal India gains over 2% post Q1 earnings

Shares of Coal India today rose by over 2 percent, a day after the company reported 7.8 percent rise in consolidated net profit for the first quarter ended June 30.

Mumbai: Shares of Coal India today rose by over 2 percent, a day after the company reported 7.8 percent rise in consolidated net profit for the first quarter ended June 30.

After opening on a bullish note, shares of the company gained 2.37 percent to Rs 355.80 on the BSE as the trade progressed.

At the NSE, the stock climbed 2.4 percent to Rs 356.

The scrip was the top performer among the BSE 30-scrip blue-chip index Sensex, which was trading flat.

State-owned Coal India yesterday reported 7.8 percent rise in consolidated net profit at Rs 4,469 crore in the first quarter ended June 30, on the back of higher sales and e-auction realisation.

It had posted a net profit of Rs 4,144 crore in the year- ago period.

Net sales of the company for the April-June, 2012-13, quarter increased 13.8 percent at Rs 16,500 crore, as against Rs 14,499 crore in the same period last fiscal.

PTI