Coal India shares gain 3 pc to touch 52-week high on strong Q1 numbers

Shares of Coal India gained over 3 percent to hit a 52-week high in morning trade on Thursday after the company reported robust June quarter numbers.

On BSE, the stock opened strong at Rs 226.00, then gained further to hit a 52-week high of Rs 226.10, registering a rise of 2.84 percent over its previous closing price after its June quarter profit almost tripled to Rs 8,832.86 crore.

On the NSE, the stock climbed 3.16 percent to a 52-week high of Rs 226.80.

Coal India Ltd on Wednesday reported an almost three-fold rise in consolidated net profit at Rs 8,832.86 crore for the June 2022 quarter on the back of higher sales.

The company had posted a net profit of Rs 3,169.86 crore in the year-ago period, Coal India Ltd (CIL) said in a BSE filing.

Its revenue from operations during the April-June period increased to Rs 35,092.17 crore from Rs 25,282.75 crore a year ago.

The company’s net sales in the first quarter rose to Rs 32,497.9 crore from Rs 23,293.65 crore earlier.

Its output in the April-June period rose to 159.75 million tonnes (MT) from 123.98 MT in the corresponding quarter of the previous fiscal.

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