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Coal India’s production declines marginally, sales grow in July

IANS | Kolkata |

Coal India on Tuesday reported that its production during July declined marginally to 36.64 million tonnes (mt) as compared to 36.74 mt produced in the same month last year.

According to the state miner's provisional data, it produced 155.48 mt of coal during the first four months of the current financial year, down by 4.3 per cent from 162.38 million tonnes produced during the year-ago period.

Its off-take grew by 4.1 per cent in the April-July period to 181.69 mt as against 174.66 mt sold in the corresponding period and in July only, its off-take was at 44.33 mt, up by 6.89 per cent from 41.47 mt in the year-ago month.

Coal India's two subsidiaries — South Eastern Coalfields Ltd (SECL) and Mahanadi Coalfields Ltd (MCL) — contributed to majority of its July production by generating 9.95 mt and 10.24 mt of coal respectively.

The off-take from SECL during the last month was at 11.93 mt while MCL achieved 11.09 mt of sales.

According to the provisional data, Coal India, which has been dealing with weak demand, missed the production target of 37.66 mt for July but achieved 99 per cent of its off-take target of 44.96 mt for the last month.

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