Coal India posts better-than-expected Q2 results on high power demand amid weak monsoon
Power demand in India, which usually peaks in May due to extreme summer heat, remained high in the reporting quarter due to unusually dry weather and higher economic activity, amid a drop in hydroelectric output.
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
The state-run miner posted a consolidated net profit of Rs 6,800 crore ($816.3 million) for the quarter ended Sept. 30, up 12.5 per cent from last year.
It also beat analysts' estimate of Rs 6,370 crore, as per LSEG data.
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