The Indian coal ministry expects Coal India to surpass its production target of 700 mln tonnes fixed for the current fiscal
The composite production was 110.40 million cubic metres (M CuM) for July, against 94.4 M CuM in July 2019, CIL said in a statement.
Lockdown impact on volumes, lower e-auction share to hit profits
Further fresh auction of coal mines to private players can also lead to higher competition for Coal India
Its profit for the three months to December reached Rs 4,567 crore ($646.5 million), compared with Rs 3,043 crore a year earlier
Analysts on average had expected the company to post a quarterly profit of Rs 2,662 crore