Reuters reported that Banpu Pcl, Thailand top coal miner reported a better than expected surge in quarterly profit to a record high recently mostly due to huge gains from selling a stake in an Indonesian unit.

Banpu also Indonesia fourth largest coal miner posted a July to September net profit of THB 13.3 billion up from THB 3.8 billion a year earlier.

Twelve analysts polled by Reuters had forecast an average net profit of THB 12.6 billion for the quarter. Analysts had expected Banpu to book a gain of at least THB 10.5 billion from selling an 8.72% stake in Indo Tambangraya Megah Tbk PT in September.

(Sourced from Reuters)