Coal India posts higher Q4 profit but misses market estimates

New Delhi

COAL India Ltd, the world's biggest producer of the fuel, missed analysts' estimates for fourth-quarter profit as oversupply of the fuel and lower international prices trimmed earnings.

Net income for the three months ended March 31 rose to 42.5 billion rupees (S$875 million) from 42.4 billion rupees a year earlier, the state-run monopoly said in a stock exchange filing on Sunday. The profit lagged a mean estimate of 45.5 billion rupees from 22 analysts compiled by Bloomberg. Coal deliveries during the period rose 7.8 per cent to 145.2 million tonnes.