Coal India stock spikes over 5.5% as Q3 earnings beat estimates. Is it a good time to buy?
The company released its Q3 numbers post market hours on Monday, reporting a net profit of ₹9,094 crore, a robust 18% YoY growth. This was the highest PAT earned during the third quarter of any year since the company’s listing.
Coal India, the world's largest coal miner, saw its shares jump 5.80% to ₹457.85 apiece in today's trade after the company posted a robust set of numbers for the December-ending quarter, beating analysts' estimates. The strong earnings were led by higher other income, lower raw material and overburden removal costs.
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