Coal India Misses Production Target by 6 % in Apr-Dec

Coal India Ltd (CIL) reported that it has produced 383.93 million tonnes (mt) during the April to December period, but missed the target by six per cent.

However, the state-run miner achieved a 7.6 per cent growth in off-take to 421.41 mt during the first nine months of the current fiscal as compared to 391.78 mt during same period last year.

Its off-take for December only stood at 53.44 mt, missing the target of 53.84 mt for the last month by only one per cent.

CIL, which had a target to produce 406.58 mt during the nine month period, clocked a 1.6 per cent growth in production from 377.77 mt produced in the same period last year, its provisional data showed.

According to the data, it produced 54.63 mt of coal in December only, missing the production target of 58.89 mt for the month by seven per cent.

Coal India Chairman Gopal Singh had said the company was "pushing hard" to meet the 600 mt production target for the fiscal 2017-18 and the one billion tonne production mark for 2019-20.

During the April-December period, it missed the off-take target of 432.11 mt by two per cent.

CIL envisaged production of 908.10 million tonnes in 2019-20 with a Compound Annual Growth Rate of 12.98 per cent, with respect to 2014-15.