Coal India gains after decent coal production in March

Coal India rose 0.21% to Rs 140.30 on reporting decent provisional coal production figures for March 2020 during trading hours today, 1 April 2020.

Coal India said that its total provisional coal production in March 2020 stood at 84.36 million tonnes as compared to 79.19 million tonnes in March 2019, registering a 6.5% rise.

Provisional coal offtake dropped 10.3% to 53.45 million tonnes in March 2020 as against 59.60 million in March 2019.

Coal India's consolidated net profit tanked 14.08% to Rs 3,923.87 crore on a 7.78% drop in net sales to Rs 21,566.41 crore in Q3 December 2019 over Q3 December 2018.

Coal India (CIL) is a coal mining company, which is engaged in the production and sale of coal. The firm offers products, including coking coal, semi coking coal, non-coking coal, washed and beneficiated coal, middlings, rejects, coal fines/coke fines, and tar/heavy oil/light oil/soft pitch.

As of 31 December 2019, the Government of India held 69.12% stake in the company.

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