Prior to this, the company’s stock price was up on reports that the company is close to acquiring a coal mine in Indonesia for Rs 100 crore.
Financial performance for the first quarter ended 30th June 2008 indicates that the company is doing well. Net sales of the company rose 34% at Rs.558.39 crore and despite a 30% rise in operating expenses, its EBIDTA was up 30% at Rs.479.83 crore. Its interest outgo rose over 3.5 times, yet it managed to show a 33% rise in PBT. Its PAT was up 29% at Rs.34.99 crore.