News Brief | September 2014
Coal India profit rises 8%
Coal India has reported a little over 8 per cent growth in net profit to Rs 4,033 crore for the April-June quarter against Rs 3,731 crore a year ago. The national miner´s profits had hit a declining trend since the second quarter of 2013-14 due to higher sales to the power sector at low prices, and lower e-auction realisation. According to sources, a rise in both volume (30 per cent) and average price realisation from e-auction sales brought the company back on the growth path during the last quarter. Meanwhile, the company board decided to seek the Union Government´s nod in ensuring availability of coal on e-auction.