Mining major Coal India Ltd on Tuesday reported a 14-per cent year-on-year decline in consolidated net profit for the December quarter at Rs 3,921.8 crore.
The Kolkata-based miner realised Rs 18,015 crore in October-December from fuel supply agreement (FSA) at Rs 1,411 per tonne.
Average realisation during the quarter was Rs 1,524 per tonne, the release said.
Meanwhile, a company official believes that despite coal production being hampered at Dipka mines due to prolonged rains, Coal India Ltd will exceed last year's production figures. In 2018-19, Coal India produced 606.89 million tonnes (MT),while dispatch was at 608.14 MT. "Coal India's production was nearly minus 8% till October. So in the last few months the coal production has caught up. Now it has just minus 3.5%."
Secretary of Coal Ministry, Anil Kumar Jain told PTI on the sidelines of Energise 2020 a biennial conclave.
CIL, which accounts for over 80 per cent of the domestic production, saw its output decline by six per cent to 241 MT in April-September on account of monsoon.
"In fact it would be the highest ever in the country," Jain added.
Replying to a query on the spinning of Coal India Ltd subsidiaries into five entities, Jain said though there were some discussions held earlier in that direction, there is no fresh development.
"At the moment that is the decision (Coal India remains as it is)," he said.
