Coal India misses October output target by 5 percent

Although state owned miner Coal India over-achieved its offtake target for October, it missed its provisional coal output target which fell by five percent for the same month against the target.

Against a coal output target of 46.84 million tonnes (mt) last month, the miner could dig out 44.37 million tonnes of coal while the offtake was 44.41 mt against a target of 44.31 mt, Coal India said in a filing with the Bombay Stock Exchange (BSE).

One of its biggest subsidiaries - Mahanadi Coalfields (MCL) - missed the target of 13.65 mt of coal by 16 percent, while the other large subsidiary - South Eastern Coalfields (SECL) - over-achieved the target of 11.67 mt by two percent.

Offtake from MCL fell short by three percent at 11.74 mt, but from SECL exceeded the target by eight percent at 11.90 mt.

Production from Northern Coalfields (NCL), Western Coalfields (WCL) and Central Coalfields (CCL) hit the bull's eye at 6.90 mt, 3.56 mt and 4.86 mt respectively.

The offtake from NCL also exceeded the target of 6.25 mt by nine percent. However, WCL's offtake (3.47 mt) fell short by four percent and CCL's target of 4.87 mt was lagged by just a percent to the target.

From April to October, both the coal output as well as the offtake targets could be achieved 97 percent only.

The total output in the aforesaid months stood at 273.91 mt against the target of 282.33 mt while the offtake stood at 295.80 mt against the target of 304.03 mt.