Coal news and updates

Coal India misses October production, offtake targets

State-owned Coal India (CIL) has produced 35.03 million tonnes (MT) of coal in October, missing its target for the month.

The company's output target for the month was 40.82 MT, according to the PSU's filing on BSE. The company also missed its offtake target of 41.55 MT during the month. CIL's actual offtake in October was 35.51 MT, it said.

However, no reasons were given by the company for missing both the output and offtake targets.

Against the output target of 247.45 MT in the first seven months of the current fiscal, CILBSE 1.11 % produced 235.51 MT of coal, the company said.

The company's offtake from April-October was 259.87 MT, while the target was 268.78 MT, the company added.

Last month, a Coal India official had said that the PSU has suffered a production loss in October due to Cyclone Phailin, which has affected the key coal producing states of Odisha, Jharkhand and West Bengal.

The loss came amid the firm drawing flak from all quarters for missing its production target.

Also, Coal Minister Sriprakash Jaiswal had earlier said that though production at CIL has been hit in October due to Cyclone Phailin, "We are hopeful that (Coal India) will achieve its production target for the current fiscal."

CIL, which accounts for over 80 per cent of the domestic production, contributed 452.5 MT of coal in the previous financial year compared with the target of 464 MT.

The Coal Ministry has set a production target of 482 MT and offtake of 492 MT for CIL for 2013-14.

Source: PTI