Coal India Shares Surge Over 4% Following Strong March Quarter Earnings

Coal India shares surged over 4% on Friday after Q4 profit jumped 26.2% to Rs 8,682.20 crore, driven by higher coal supplies. The stock climbed on both BSE and NSE, with gains at Rs 472.10 and Rs 471.95, respectively.

Shares of Coal India Ltd (CIL) on Friday climbed over 4 per cent after the company reported a 26.2 per cent rise in consolidated net profit for the March quarter.

The stock jumped 4.15 per cent to Rs 472.10 on the BSE.

At the NSE, it rallied 3.97 per cent to Rs 471.95.

Coal behemoth CIL on Thursday reported a 26.2 per cent rise in consolidated net profit to Rs 8,682.20 crore for the March quarter on the back higher supplies of the dry fuel.

The company's consolidated net profit stood at Rs 6,875.07 crore in the year-ago period, Coal India Ltd (CIL) said in a regulatory filing.

Its consolidated income in the latest January-March period declined to Rs 39,654.50 crore from Rs 40,371.51 crore a year ago.

The company's PAT for the entire 2023-24 fiscal touched Rs 37,369 crore, logging a 17.8 per cent year-on-year growth.

CIL accounts for over 80 per cent of the country's domestic coal production.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)