CIL arms Eastern Coalfields and Northern Coalfields bagging Rs 408 crore and Rs 358 crore, respectively were major contributors towards the performance incentive for 2019-20.
The drop in imports assumes significance in the wake of government mandating state-owned Coal India Ltd (CIL) to replace at least 100 million tonne (MT) of imports with domestically-produced coal in 2020-21.
"The Government of India does not intend to privatise Coal India Ltd. Instead, the government is strengthening CIL and will continue to do so," the Coal Minister said.
Of the 40.38 MT produced last month, CIL arm Mahanadi Coalfields Ltd (MCL) produced the highest 11.53 MT, followed by South Eastern Coalfields Ltd (SECL) 9.30 MT and Northern Coalfields Ltd (NCL) 8.73 MT, among others.
The company has been averaging 2.56 MTs production per day during the current month with supplies averaging 1.75 MTs.
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.
The R&D centre, named 'SARAS', will be the centre of excellence, infrastructure up-gradation and IT initiatives for the subsidiary of the Coal India Ltd.
The state-run miner had a target to produce 660 million tonnes of coal in 2019-20 as against 607 million tonnes produced in the last fiscal.
The Union Cabinet headed by Prime Minister Narendra Modi also gave its nod for concluding auction of iron ore and other mineral mines before the expiry of their current mining lease on March 31, so as to avoid disruption in production.
Coal India aimed at producing 660 million tonne in 2019-20 and missed the target of 457.23 million tonne till December.
Stating that in 2019 the ground has been set up for CBM, UCG, he said the coal ministry has been able to firm up a business model and in the coming years some tangible steps would be seen on the ground in CBM, UCG and surface coal gasification of technology induction.
A total of 63 million tonne of coal movement is currently involved under the rationalisation policy, CIL sources said.
Making coal available for short-term to stressed power plants was one of the recommendations of the high-level committee headed by then Cabinet Secretary P K Sinha. The panel had submitted its report in November last year.
The state-owned company had earlier said it would meet the target by the fiscal 2025-26.
'Owing to an unfavorable socio-political situation and frequent stoppages, Talcher coalfields alone has registered a loss of 13 million tonne in coal production during the current financial year,' Dikken Mehra, a spokesman for Coal India unit Mahanadi Coalfields Ltd (MCL) said.
'We are trying to achieve 30,000 tonnes production per day from the upper and middle benches of the mine in ten days,' Binny Dayal, Director (Technical) at Coal India told Reuters.
Five federations representing over half-a-million workers of CIL and Singareni Collieries have called for the strike, seeking withdrawal of the central government's move.
Coal India produces around 2 million tonne of coal a day and the state-run miner accounts for over 80 per cent of the country's coal production.
Total expenses stood at Rs 19,077.44 crore during the quarter under review as against Rs 19,272.43 crore in the corresponding quarter of previous fiscal.
The BJP workers have been staging sit-down protests and waving flags at state-run Coal India Ltd's mines in Odisha, demanding a safety audit of all mines in the region.
State-owned Coal India Ltd (CIL) has planned to increase coking coal output from 34.12 million tonnes (MT) to 52.95 MT by 2019-20.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 56 points or 0.47 percent. Nifty futures were trading around 11,953-level on the Singaporean Exchange.
The company's sales was at Rs 26,704.27 crore for the quarter under review against Rs 24,747.10 crore in the same period of FY'18.
The world's largest coal miner had dispatched 454.2 MT of coal to the power sector in 2017-18, as per the latest government data.
NCL is also expected to meet its dispatch targets for the fiscal.