Coal India misses July output target by 2% to 32.77 MT
Coal India marginally missed its output target for July by two percent producing 32.77 million tonnes (MT) of dry fuel during the month.
August 02, 2013 / 16:34 IST
Coal India has marginally missed its output target for July by two per cent, producing 32.77 million tonnes (MT) of dry-fuel during the month.
The state-run PSU, which is the world's largest coal miner, had set a production target of 33.44 MT for the month. While four of its subsidiaries - Eastern Coalfields (ECL), Central Coalfields (CCL), Bharat Coking Coal (BCL) and South Eastern Coalfields (SEC) accounted for more than targeted production, other four - North Eastern Coalfields (NEC), Western Coalfields (WCL) , Northern Coalfields (NCL) and Mahanadi Coalfields (MCL) could not meet the target.Also read: Govt may proceed with 5% sale in CIL this month: JaiswalAs per a filing on the Bombay Stock Exchange, SECL contributed highest 9.4 MT followed by 8.08 MT by MCL and 4.65 MT by NCL.NEC, however, contributed barely 0.01 MT while WCL's production was recorded at 1.91 MT. As far as the April-July target was concerned, the state-run entity missed it by 3.33 per cent and produced 135.64 MT during the period.CIL has fixed a production target of 140.32 MT for the period.
As per the data given to the BSE, the achievement for off-take target during the month was 106 per cent with the off-take recorded at 38.22 MT during the month against a target of 36.07 MT.
As far as the offtake target for April-July period was concerned, the company missed it by 2.16 per cent, recording 153.47 MT off-take against 156.86 MT.CIL, which accounts for over 80 per cent of the domestic production, contributed 452.5 MT of coal in the previous financial year, compared with a target of 464 MT.
The Coal Ministry has set a production target of 482 MT and offtake of 492 MT for CIL for 2013-14. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
