CIL H1 net grows by 29 pc

Coal India CIL on Tuesday reported a growth of 29.06 per cent in its net profit at Rs 4,020 crore during the April-September period this year.

The net profit of the company was Rs 3,115 crore during the corresponding period of 2009-10. Net sales of the company was at Rs 22,525.53 crore,a rise of 16.9 per cent for the first half of the current fiscal as against Rs 19,269.52 crore recorded in the same period the previous fiscal,Coal India said in a filing to the Bombay Stock Exchange.

The company has been looking to acquire coal mines abroad and has earmarked Rs 6,000 crore for this purpose in the current fiscal. The company has shortlisted US firms Massey Energy and Peabody Energy,besides Indonesian Novem/Sinarma,for a possible partnership for their respective mines in Australia,Indonesia and the US.