Coal India Exceeds Profit Expectations Due to Higher Prices and Demand
Coal India, a state-owned mining company, reported a significant increase in quarterly profits, surpassing analyst expectations. The company's net profit rose to 108.39 billion rupees ($1.15 billion), driven by higher coal prices and increased demand amid a gas supply shortfall linked to geopolitical tensions involving the US and Iran. The demand for coal surged as India relied heavily on coal for electricity generation, especially during a period of high power consumption due to a heatwave. Coal India's revenue from operations also saw a rise, and the company's sales to customers increased for the first time in six months. 
