Coal India has informally discussed the matter with board members and most of them have acknowledged the need to hike prices of coal.
Chairman Pramod Agarwal said its joint venture with state-run NLC India Ltd plans to invest around 125 billion rupees ($1.73 billion) in solar power projects with a capacity of 3,000 megawatts (MW), of which Coal India would invest about 60 billion rupees by March 2024.
Agrawal, a 1991 batch IAS officer, was principal secretary for urban development and housing department in Madhya Pradesh.
Net sales of the company also rose to Rs 554.84 crore for the quarter under consideration as against Rs 500.35 crore for the same period year ago.