Coal India Ltd.

Coal India has invited bids from bankers and interested parties for acquiring assets abroad. This initiative will help the company to meet shortages as it battles problems in enhancing its output. The state run firm has already initiated work for assessing the reserves of its mines in Mozambique and has invited bids for taking up drilling at the blocks.

The company has reported 39.17% rise in its net profit at Rs 1696.92 crore for third quarter ended December 31, 2012 as compared to Rs 1219.33 crore for the same quarter in the previous year. Total income of the company has increased by 38.25% at Rs 2158.04 crore for the quarter under review as compared to Rs 1560.97 crore for the quarter ended December 31, 2011.