Coal India misses output target in June; production at 34.5 MT

State-owned Coal India (CIL) achieved an output of 34.54 million tonnes (MT) in June, missing its target of 36.54 MT.

This comes at a time when the PSU is drawing flak for missing production targets.

CIL's output in the April-June period of the current fiscal was at 108.33 MT, while the target for the quarter was 113. 01 MT, the company said in a filing to BSE.

The company's offtake in June was 38.29 MT, missing its target of 42.01 MT.

Last month Coal and Power Minister Piyush Goyal had asked Coal India to ramp up production from its existing mines.

CIL, which accounts for 80 per cent of domestic coal production, missed its output target of 482 million tonnes for 2013-14, producing 462 million tonnes during the period.

Production fell short of target because of various reasons, including lack of environment clearance to the coal mining projects.

In 2012-13, the company produced 452.5 million tonnes of coal, short of the 464 MT target.

Coal India's production target for 2014-15 has been set at 507 MT, while the offtake target is 520 MT.

EDITORIAL OF THE DAY

  • India cannot afford to ignore the looming Greek crisis

    The crisis in Greece may not have a direct bearing on the Indian economy because the trading or banking exposure of Indian companies to that nation is

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Kumar Jain

A complex challenge for our PSUs

Till the mid-1990s, the central government and its companies were ...

Kuruvilla Pandikattu SJ

The transforming qualities of love

The 2015 Templeton Prize has been awarded to Canadian thinker ...

Dharmendra Khandal

The one in which a blue whale was washed ashore

Quite unexpectedly, a gigantic blue whale was washed ashore at ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture