Reuters reported that Coal India Limited met market expectations with an 8% increase in quarterly profit, helped by strong sales and a pricing change this year that boosted margins.

The state run miner reported April to June 2012 quarter net profit rose to INR 44.69 billion from INR 41.44 a year earlier. Net sales gained 13.8% to INR 165 billion.

According to a Reuter's poll of brokerages, analysts on average had forecast net profit of INR 44.4 billion on net sales of INR 166.5 billion.

Source - Reuters

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