Coal India Ltd.

Coal India (CIL) is likely to acquire coal mines in Australia and its board-level committee will decide the way ahead on acquisition proposals in Australia. The entity has recently entered into non-disclosure agreements with two Australian coal companies for due diligence of a number of thermal coal assets. Indian miner was negotiating with a British-American mining major to acquire a partly explored asset in the Surat basin in Queensland.

The company, on consolidated basis, has reported 34.90% jump in its net profit after taxes, minority interest and share of associates at Rs 5413.91 crore in Q4FY13 as compared to net profit of Rs 4013.41 crore in the same quarter previous year. Total income from operation of the company has increased marginally by 1.78% to Rs 22111.07 crore as compared to Rs 21724.99 crore in corresponding quarter last year.