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Coal India Q1 net profit up 8%, meets estimates
Shankar Sharma, global trading strategist at First Global, shares his view on how the Indian market is going to perform ahead. “Since India offers better value than other markets, we expect it to outperform. Commodity prices will decline in the coming mon
13 Aug 2012, 05:35 PM IST 
Habil Khorakiwala, chairman of Wockhardt
Coal India, the world's largest coal miner, met market expectations with an 8 per cent increase in quarterly profit, helped by strong sales and a pricing change this year that boosted margins.
The state-run miner reported April-to-June net profit rose to Rs 4,469 crore from Rs 4,144 crore a year earlier. Net sales gained 13.8 per cent to Rs 16,500 crore.
Analysts had forecast net profit of Rs 4,440 crore on net sales of Rs 16,650 crore, according to a Reuters poll of brokerages.
Shares in Coal India, valued at about nearly $40 billion, closed 0.3 per cent lower in a firm Mumbai market. The stock has gained nearly 16 per cent so far this year.