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Coal India gains after Q1 net profit rises

Capital Market/ 09:27 , Aug 14, 2012

Coal India rose 1.88% at Rs 354.10 at 9:24 IST on BSE after consolidated net profit rose 7.85% to Rs 4469.26 crore on 13.80% rise in net sales to Rs 16500.59 crore in Q1 June 2012 over Q1 June 2011.

The result was announced after market hours on Monday, 13 August 2012.

Meanwhile, the BSE Sensex was down 13.88 points, or 0.08%, to 17,619.57.

On BSE, 38,000 shares were traded in the counter as against an average daily volume of 1.78 lakh shares in the past one quarter.

The stock hit a high of Rs 355.20 and a low of Rs 350.15 so far during the day. The stock had hit a 52-week high of Rs 403.85 on 18 August 2011. The stock had hit a 52-week low of Rs 293.75 on 22 December 2011.

The stock had underperformed the market over the past one month until 13 August 2012, falling 1.84% compared with the Sensex's 2.44% rise. The scrip had, however, outperformed the market in past one quarter, rising 10.53% as against 8.23% rise in the Sensex.

The large-cap state-run coal mined has an equity capital of Rs 6316.36 crore. Face value per share is Rs 10.

Coal India's coal production rose 6.4% to 102.47 million tonnes in Q1 June 2012 over Q1 June 2011. Coal offtake rose 6.39% to 113.04 million tonnes in Q1 June 2012 over Q1 June 2011.

Coal India is the single largest coal producer in the world. Operating through 81 mining areas, the company is an apex body with 7 wholly-owned coal producing subsidiaries and one mine planning and consultancy company. The company also fully owns a mining company in Mozambique christened as 'Coal India Africana Limitada'. The Government of India owns 90% stake in Coal India (as at end June 2012).

 



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