CIL reports 8.6 percent product growth in 2015-16

Coal India Ltd (CIL), one of the largest coal miners in the world, reported a 8.6 percent year-on-year growth in production to 536.51 million tons (mt) in 2015-16 against the target of 550 mt, said a provisional data released by the company on Friday.

The state run miner however missed its production target by around 2 percent in the fiscal. Company's March production clocked 59.19 mt surpassing the month's target as well as showing an increase on a month-on-month basis from 51.01 mt in the previous month.

The state-run coal miner accounts for 80 percent of the total coal production in India and the company has set a target of producing one billion tonnes by 2019-20.

The Kolkata headquartered company's off-take grew by 8.8 percent in the last fiscal to reach 532.26 mt. It missed the off-take target for the year ended on Thursday by about three percent.

In March 2016, the company met 94 percent of the off-take target.