Hope to maintain 8.5% off take growth in FY13: Coal India
S Narsing Rao, Chairman, Coal India said the company expects to maintain its 8.5 percent off take throughout this fiscal. However, he is hopeful of higher volumes.
Coal India reported a 19 percent increase in quarterly profit, helped by strong sales and better prices, but narrowly missed street expectations. S Narsing Rao, Chairman and MD, Coal India said the company expects to maintain its 8.5 percent off take throughout this fiscal. However, he is hopeful of higher volumes.
Here is the edited transcript of the interview on CNBC-TV18.
Q: Do take us through your quarterly performance?
A: In Q2, we have Rs 3,078 crore net PAT over Rs 2,593 crore last year. This is as per the expectations.
Q: Tell us about your sales and production numbers and are you on course to achieve that FY13 target?
A: Yes, in the first half we logged 8.5 percent growth in off take and our annual target is also 8.5 percent. In the third and fourth quarter also we will be maintaining it at 8.5 percent in terms of growth, though volumes will be higher. We are confident that at this rate we should be touching 470 million tonnes.
Q: Any more price hike that's in the offering and also how do realisations look going forward?
A: We expect realizations to be at the same level because now that the price is same, growth has to come only from volumes.