Coal India rises after good production, offtake in August

Coal India rose 1.80% to Rs 135.90 after the coal major said its production grew 7.1% to 37.17 million tonnes in August 2020 as against 34.70 million tonnes in August 2019.

Coal offtake jumped 9.3% to 44.34 million tonnes in August 2020 compared with 40.57 million tonnes in August 2019.

On a month-on-month basis, coal production slipped 0.50% and coal offtake advanced 2.18% compared with last month. The disclosure was made after market hours yesterday, 1 September 2020.

Coal India will announce its Q1 results today, 2 September 2020. The coal major reported 23.2% decline in consolidated net profit to Rs 4,625.76 crore on 4.1% fall in net sales to Rs 25,597.43 crore in Q4 March 2020 over Q4 March 2019.

 

Coal India 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.

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