Coal India gains after good production, offtake in Sept

Coal India (CIL) rose 1.72% to Rs 118 after the company announced coal production and offtake figures for September 2020.

The company's coal production rose 31.6% to 40.51 million tonnes in September 2020 from 30.78 million tonnes in September 2019.

CIL's coal offtake in September 2020 stood at 46.46 million tonnes, up by 31.7% from 35.28 million tonnes in September 2019.

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

The company's consolidated net profit tumbled 55.1% to Rs 2,079.60 crore on 26.8% decline in net sales to Rs 17,007.10 crore in Q1 FY21 over Q1 FY20.

 

On a year-to-date (YTD) basis, the stock has declined 44.25% while the benchmark S&P BSE Sensex lost 6.25% during the same period.

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