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CIL suffers 14% fall in profit

Coal India realised Rs 18,015 crore in October-December from FSA at Rs 1,411 per tonne
Net sales stood at Rs 21,566.41 crore during the quarter under review against Rs 23,385.43 crore in the corresponding period a year ago, Coal India said in a release.
Net sales stood at Rs 21,566.41 crore during the quarter under review against Rs 23,385.43 crore in the corresponding period a year ago, Coal India said in a release.
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TT Bureau   |   Calcutta   |   Published 11.02.20, 10:32 PM

Mining major Coal India Ltd on Tuesday reported a 14-per cent year-on-year decline in consolidated net profit for the December quarter at Rs 3,921.8 crore.

Net sales stood at Rs 21,566.41 crore during the quarter under review against Rs 23,385.43 crore in the corresponding period a year ago, Coal India said in a release.

Total comprehensive income for October-December came in at Rs 3,669.68 crore compared with Rs 4,139.59 crore in the year-ago period.

Coal India realised Rs 18,015 crore in October-December from fuel supply agreement (FSA) at Rs 1,411 per tonne.

Average realisation during the quarter was Rs 1,524 per tonne, the release said.

The company produced 147.50 million tonne of raw coal in the three months ended December. Its output in the corresponding period a year ago was 155.97 million tonne.

Despite production being hampered at Dipka mines due to prolonged rains, Coal India will exceed last year's production figures, coal secretary Anil Kumar Jain said on Tuesday in Hyderabad. In 2018-19, Coal India produced 606.89 million tonnes,while dispatch was at 608.14 million tonnes.

“Coal India's production was nearly minus 8 per cent till October. So in the last few months the coal production has caught up. Now it has just minus 3.5 per cent. And it will go on to be plus at the end of the year. It is going to be healthy percentage over last year’s (figures),” he said.

Secretary of Coal Ministry, Anil Kumar Jain told PTI on the sidelines of Energise 2020 a biennial conclave.



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