Coal India Board clears the way for 'Scheme for Harnessing and Allocating Koyala (Coal) Transparently in India' (SHAKTI)
Due to this revision, the world's largest coal miner will earn an incremental revenue of Rs 1,956 crore for the remaining period of the 2017-18 fiscal year while total revenue will be Rs 6,421 crore, the company said in a regulatory filing.
The price hike will be applicable to "all subsidiaries of Coal India, including NEC for regulated and non-regulated sectors", the filing said.
The miner was compelled to revise prices in the wake of rising costs which was a drag on its profitability for the last few quarters.
In the remaining part of 2017-18, additional revenue from evacuation levy will be Rs 800 crore.
The recent wage revision had pushed up its annual employees cost by additional Rs 5,600 crore.
Meanwhile, Coal India also said sales bills will be raised on GCV (kcal/Kg) basis with effect from April 1, 2018 and the present mode of raising bill would continue till then.
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