Coal India gains after decent production, offtake numbers in Nov

Coal India rose 0.47% to Rs 126.95 after the state-run coal major reported decent coal production and offtake figures for November 2020 over November 2019.

On a provisional basis, the company's coal production rose 3.3% to 51.7 million tonnes (MT) in November 2020 from 50 million tonnes (MT) in November 2019. CIL's coal offtake in November 2020 stood at 51.3 million tonnes (MT), recording an 8% growth from 47.5 million tonnes (MT) in November 2019.

Sequentially, Coal India's production increased nearly 11% while sales grew 2% in November 2020 over October 2020.

CIL is a coal mining company, which is engaged in the production and sale of coal. As of 30 September 2020, the Government of India held 66.13% stake in the company.

 

The state-run coal major's consolidated net profit dropped 16.2% to Rs 2,951.60 crore on 2.6% increase in net sales to Rs 19,484.15 crore in Q2 September 2020 over Q2 September 2019.

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