Coal India September targeted output falls short by 4 percent

State owned miner Coal India said on Saturday it missed its output target of 38.77 million tonnes for September this year by four percent while outperforming its offtake target for the same month.

During the previous month, the company dug out 37.17 million tonnes of coal.

Its two biggest subsidiaries - South Eastern Coalfields (SECL) and Mahanadi Coalfields (MCL) - both missed their targets, but Central Coalfields Ltd (CCL) and Northern Coalfields (NCL) overachieved their respective output targets.

The fossil fuel production in SECL during September stood at 9.96 million tonnes against the target of 10.26 million tonnes - an achievement of 97 percent - while in MCL, the achieved production was 96 percent on a target of 10.27 mt.

Production from CCL stood at 4.27 million tonnes against the target of 4.07 million tonnes while NCL was able to dig out 5.72 million tonnes of coal against the targeted 5.44 million tonnes. Both these units overachieved the target by five percent.

For the April-September timeperiod, the company's production fell short by three percent at 229.54 million tonnes against the targeted 235.49 million tonnes.

Compared to the same timepriod in 2014, production rose by 8.9 percent.

On the offtake front, Coal India had targeted the quantity at 39.71 million tonnes for the month under consideration and was able to outbid the target by two percent. Its final offtake during the month stood at 40.41 million tonnes.

During the April-September period, the firm's offtake, however, fell short of the target by three percent registering it at 251.39 million tonnes against the targeted 259.72 million tonnes. Nevertheless, the offtake rose by 9.3 percent during these months as compared to the same timeframe in 2014.

Four of its subsidiary companies - CCL, NCL, South Eastern Coalfields and Bharat Coking Coal - were able to outperform the targeted offtake.