It is the world’s giant coal miner firm reported a 50% jump in the 3rd quarter profit on Tuesday as it got benefits from higher coal production. The net profit for 3 months to December reached INR 45.67 billion ($646.5 million) compared with a year earlier INR 30.43 billion, company said.
According to Refinitiv Eikon Data, this figure has beaten the analyst’s estimate of INR 40.69 billion in profit. The coal production rose 2.6% quarterly Year-Over-Year to 155.97 million tonnes.
The share price of Coal India Limited was quoting INR 223.05 up INR 4.25 or up 1.94% on NSE.
JK Paper reported 72% jump on Tuesday with net profit INR 120.26 crore for the 3rd quarter ended in Dec 2018 on account of reduced finance cost, improved realization and better operational management. JK Paper Ltd is a renowned name for manufacturing copier paper in India and focusing on value-added products like bond paper, copier, coated paper, high-end maplitho paper, security paper, etc.