Eastern Coalfields has topped among the eight subsidiaries of Coal India in terms of production and offtake targets for the year 2014-15.
According to provisional data released by Coal India, Eastern Coalfields (ECL) has achieved a production of 40 million tonnes (MT) or 105 percent of the target of 38 MT set for the fiscal 2015, registering a growth of 11 percent over the previous year.
Two more subsidiaries, Bharat Coking Coal (BCCL) and Central Coalfields (CCl), had surpassed their respective production targets for the year.
Production at BCCL was at 34.51 MT or 102 percent of the target, while CCL touched 101 per cent of its targeted production to 55.64 MT. Rest of the subsidiaries failed to meet the target and remained short by 2 to 6 percent except North Eastern Coalfields, which had less than 1 MT production.
The cumulative Coal India production for FY15 was 494.23 MT, a growth of 6.9 per cent over the last year, but 97 per cent of its target of 507 MT.
While, on the offtake front, ECL remained at the top with 38.45 MT or 101 per cent of the target or 6.1 percent growth in FY15, the rest of the subsidiaries fell short by 4 to 8 percent in their respective offtake targets, the CIL data said.
The total offtake target for Coal India was 520 MT, but it could meet 489.34 MT or 94 percent. The offtake growth in FY15 was 3.8 percent over 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!
