Coal India profits up but misses production target
Published by Jonathan Rowland,
Editor
World Coal,
Coal India has announced a rise in profits in the three months to June but still failed to his its production target, according to Reuters.
Net profit rose 8% to 40.3 billion rupees (US$ 658 million) on net sales of 178 billion rupees (US$ 29 billion). But its production of 108.3 million t was still below the company’s own forecast.
Coal India supplies the vast majority of India’s coal but its inability to meet production targets has left the country reliant on imports. Earlier this year, stockpiles of the fuel dropped to their lowest levels since February 2013, leaving many power plants with only a few days worth of supply.
Written by Jonathan Rowland
Read the article online at: https://www.worldcoal.com/coal/12082014/world-coal-coal-india-profits-up-but-misses-production-target-coal1196/
You might also like
BLM coal lease sale at Freedom Mine nets US$106 292
The Bureau of Land Management announce that Coteau Properties Company of Beulah, N.D., was awarded a lease to mine 18.3 million t of available federal coal across 1070 acres for US$106 292 at Freedom Mine in Mercer County, N.D.
