Mumbai: Shares of state-owned Coal India Friday rose over 2 percent despite the company reporting a 16.2 percent drop in its consolidated net profit for the quarter ended December.
The scrip ended the day 2.37 percent higher at Rs 377.50 on the BSE. During the day, it gained 2.96 percent to Rs 379.70.
On the NSE, it was up 2.21 percent to end at Rs 376.90.
Coal India had yesterday reported a 16.2 percent 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 percent as against Rs 16,928.13 crore during the corresponding period last year.
