Coal India Misses Profit Estimates
Coal India reported a lower-than-expected quarterly profit rise as soaring operating expenses offset robust demand for the raw material. Total expenses climbed significantly while profit margins narrowed compared to the previous year.
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Coal India Ltd reported a 53% rise in consolidated net profit to 65.16 billion rupees ($683.7 million) for the July-September quarter, missing estimates. The state-owned miner produces about three-fourths of India's coal supply. The profit miss highlights how rising operating costs can overshadow robust commodity demand.
