Indian firm sells 1.5 MT of coal in three month ended June

Indian firm Mercator Lines Limited has reported that its coal division has contributed 60% of the company?s total revenues.

Mercator has achieved overall sales volumes of 1.5 million tonnes (MT) during the quarter ended 30th June 2011 (Q1 FY12), which comprises of own mining volume of 250,000 tonnes and balance 1.25 million tonnes through outsourced coal.

The company?s own coal came from its Kalimantan mines, two in Tanah Grogot, East Kalimantan and another two in Satui, South Kalimantan. However, no breakdown details were given

The company has also a coal mine in Mozambique but it is still in exploration stage.

The total consolidated income for Q1FY12 was Rs. 799.3 Cr. against Rs. 602.9 Cr. the Q1 FY11 ended on 30th June 2010; recording an increase of 33% on YOY basis. The consolidated Net Profit was Rs.14.7 Cr. (denny)