Coal India share price: Shares of coal giant Coal India Limited (CIL) rose as much as 2.72 per cent on Tuesday, February 13, after the company reported better-than-estimated numbers for Q3 FY24.

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Last seen, the coal company's shares were trading at Rs 441.65 each, up 1.99 per cent on the BSE today.

Coal India Q3 results

Coal India, on Monday, February 12, reported a 16.9 per cent increase in its consolidated net profit to Rs 9,069.19 crore for the December quarter (Q3 FY24). The company's consolidated net profit was Rs 7,755.55 crore in the year-ago period, Coal India Ltd. (CIL) said in a regulatory filing.

The coal behemoth, which accounts for over 80 per cent of domestic coal production, reported its consolidated revenue from operations in the October–December period at Rs 36,153.97 crore as compared to Rs 35,169.33 crore a year ago during the same period (Q3FY23). Read More

What do brokerages say about Coal India's stock?

Jefferies has maintained a 'buy’ call on Coal India with a revised target price of Rs 550, up from Rs 450 earlier. The brokerage noted that the company's cash EBITDA for the third quarter rose 6 per cent YoY, up 34 per cent QoQ, and 30 per cent above its estimates.

Further, PAT grew 17 per cent YoY to a new high. "Its volume growth trajectory has improved, and hence we upgraded FY24–26E EPS by 4–9 per cent. The company's 8.3x FY25E PE is reasonable," it added.