October 29, 2026 - Coal India reported a 53% increase in consolidated net profit for the July–September quarter on Thursday, although higher costs kept earnings below analysts’ expectations despite strong demand.

The world’s largest coal producer posted net profit of 65.16 billion rupees ($683.7 million), compared with analysts’ estimate of 70.61 billion rupees, according to data compiled by LSEG.

The state-owned company, which produces about three-fourths of India’s coal, faced higher employee expenses, increased spending to access deeper and newer mines, and growing investment in rail and mine infrastructure.

Total expenses increased 17% to 383.98 billion rupees. Coal India does not separately disclose mining costs. Its net profit margin narrowed to 17% from 22% a year earlier.

Demand remained strong, with India’s coal-fired electricity generation rising 13% year over year during the quarter. Coal India’s sales to customers increased 12%, outpacing production growth of 3.8%.

Average prices received through e-auctions rose to 3,082.21 rupees per ton from 2,973.32 rupees a year earlier. Overall average coal price realization increased by 159.43 rupees.

E-auctions, which typically command prices close to market rates, account for approximately 10% of Coal India’s sales. The remaining sales are supplied under long-term contracts.