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

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

By Newsd
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Source: India Today

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.

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