On track to achieve 600 mt sales; to focus on cost reduction: Coal India

Coal India missed estimates this quarter. Realizations were lower than expected and there was a sharp increase in the employee costs.

In an interview to CNBC-TV18, Gopal Singh, CMD of Coal India spoke about the results and his outlook for the company.

He said the offtake is 13.56 percent more than same period last year and realisations this quarter particularly October and November are good.

The focus is to increase efficiencies and productivity  with an eye on cost reduction, said Singh.

Talking on employee costs, he said they had provided for Rs 1,687 crore for wage hikes and expected the employee cost/tonne to come down in the coming quarters as production rose.

The management is targeting an e-auction sales of 120 million tonne (mt) in FY18. Things are looking positive for the company in H2FY18. We are on the track to achieve 600 mt sales, he added.

For full interview, watch accompanying video...