Shares of state-owned Coal India today rose over 2 per cent despite the company reporting a 16.2 per cent drop in its consolidated net profit for the quarter ended December.
The scrip ended the day 2.37 per cent higher at Rs 377.50 on the BSE. During the day, it gained 2.96 per cent to Rs 379.70.
On the NSE, it was up 2.21 per cent to end at Rs 376.90.
Coal India had yesterday reported a 16.2 per cent drop in its consolidated net profit at Rs 3,262.49 crore for the quarter ended December, hit by higher expenses.
The company's net profit in the corresponding quarter last fiscal stood at Rs 3,894.09 crore, Coal India (CIL) had said in a filing to the BSE.
However, net sales of the company during the quarter were at Rs 17,762.88 crore, registering an increase of 4.9 per cent as against Rs 16,928.13 crore during the corresponding period last year.
