Coal India profit soars as shortages drive demand and prices

Coal India, one of the world’s top producers of the fuel, reported a two-fold jump in its second-quarter profit as demand and prices surged.

Net income for the three months ended September rose to 60.4-billion rupees ($738-million) from 29.4-billion rupees a year earlier, Coal India said in a stock exchange filing Monday. That beat an average analyst estimate of 55.5-billion rupees compiled by Bloomberg.