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The report further quoted the official saying that Coal India’s production figure at the end of the current financial year may be 810 MT, compared to 838 MT target set by the company at the start of the year.
A similar precedent had taken place in the previous financial year as well. The company’s Chairman had alluded to missing the production target at the end of the year but the company had managed to achieve its target just two days before the financial year ended.
Coal India, in its monthly production update for November, which it released on December 2, Coal India had said that its overall production for the financial year increased by 2.4% from the same period last year to 471 MT.
The overall production figure is 56% of the 838 MT target that the company had guided for.
Coal India generally reports lower production in the first half of a financial year due to the monsoon months, while output picks up in the later half of the year.
Shares of Coal India are down 1.5% post this announcement at ₹380.7. The stock is down 30% from its record high level of ₹543.
First Published: Dec 27, 2024 3:05 PM IST
