Coal India production, offtake declines in June
Coal India said that provisional coal production dropped 12.8% to 39.20 million tonnes (MT) in June 2020 compared with 44.95 MT in June 2019.
Coal offtake shrunk by 15% to 41.61 MT in June 2020 compared with 48.98 MT in the same month last year.
Coal production slipped 11.6% to 121.01 MT while the coal offtake contracted 21.4% to 120.62 MT in Q1 June 2020 over Q1 June 2019.
The scrip rose 0.22% to Rs 134.20 on the BSE. It has traded in the range of Rs 133.10 and Rs 135 so far during the day.
The coal major reported 23% decline in consolidated net profit to Rs 4,637.95 crore on 4.1% fall in net sales to Rs 25597.43 crore in Q4 March 2020 over Q4 March 2019.
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Coal India is a coal mining company, which is engaged in the production and sale of coal.
As of 31 March 2020, the Government of India held 66.13% stake in the company.
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First Published: Jul 02 2020 | 9:43 AM IST