SME Times News Bureau | 14 Feb, 2012
World's largest coal miner Coal India Limited (CIL) Monday posted a 54 percent increase in its consolidated net profit for the quarter ended Dec 31 at Rs.40.38 billion from Rs.26.26 billion during the like period a year ago mainly due to price hike.
The Kolkata-based state-run company registered a 21 percent hike in its consolidated net sales at Rs.153.49 billion during the third quarter of this fiscal.
Production during the quarter under review was flat at 114.62 million tonnes compared to 113.77 million tonnes during the same period last year.
The coal major's bottomline increased mainly due to a price increase effected in February 2011.
