Despite Higher Demand And Sale Price, CIL Shocks With Drop In Profit

Despite Higher Demand And Sale Price, CIL Shocks With Drop In Profit

A sudden surge in demand has helped Coal India Ltd (CIL) get higher realisation from its sale of coal in the open market through auctions in the first half of the year.

Its realisation from e-auction was up at Rs 1,614 a tonne in the second quarter of this fiscal from Rs 1,348 per tonne a year ago, data revealed by CIL on Saturday evening said.

E-auction volumes rose to 23.3 million tonne from 19.1 million tonne.

However, realisation from sales made to power plants and others at notified price dropped from Rs 1,293 a tonne to Rs 1,224 a tonne.

Supplies to notified customers improved to 104.6 million tonne from 93 million tonne.

According to CIL chairman and managing director Gopal Singh, fall in energy generation from alternative and environment-friendly sources like hydel and nuclear has also pushed up the demand for coal, with thermal plants witnessing a fall in coal stocks. Read More…

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