It says this was up from $0.24m a year ago and compared with $2.47m for the year to the end of March.

President and chief operating officer Prashant Modi said: "The company has continued to make solid operational progress.

"All the core constituents for the commercialisation of the Raniganj blocks are now in place and we look forward to further developing production to meet existing sales agreements over the next 18 months.

"The award of the Tamil Nadu block provides the company with additional longer term prospects.

"Having now successfully developed the skills needed to commercialise CBM in India, we are well placed to develop its clear potential."

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