State-owned Coal India (CIL) Monday announced the reappointment of five independent directors – Loretta M Vas, Vinod Jain, DC Panigrahi, Khanindra Pathak, SB Agnihotri – to its board.
Coal production increased by over 10% to more than 370 million tonne (mt) in the April-October period from 335 mt in the previous corresponding period but several power plants are still running low on fuel due to transportation and other issues.
The country’s coal output increased by 10.4 per cent to 370.3 million tonnes (MT) in the April-October period of the current financial year. India’s coal output was at 335.2 MT in the corresponding period of the previous fiscal,
Reduced e-auction offerings by Coal India have contributed to an increase of one-and-a-half times in coal prices in the past year. This is twice as much as the increase in international rates.
Meghalaya Chief Minister Conrad Sangma on Thursday said that there has been no coal mining activity after the interim ban was imposed by the National Green Tribunal on April 2014.
Despite an eight-fold increase in net profit at Rs 30.85 billion for the quarter ended September, and a 10 per cent increase in production this year, Coal India (CIL) continues to consistently miss the ministerial targets every month.
Coal India Ltd’s June quarter results had shown that the fuel producer had started the year well. While two swallows do not a summer make, it’s heartening to note that earnings growth was robust in the second quarter as well.
In the flush, heady early years of Independence, as India committed itself to an import substitution industrialisation (ISI) strategy, planning and public sector enterprises were seen as the prime mechanisms to realise this vision.
Coal minister Piyush Goyal has asked chairmen of Coal India and its subsidiaries to cancel all travel plans and focus on meeting sales and production targets as the government is not satisfied with the performance of these companies.
State-run miner Coal India Ltd (CIL) today reported a 4.21 per cent increase in its consolidated net profit at Rs 3,004.79 crore for the quarter ended December 2017.