Coal India falls off target once again, November yields low output

New Delhi: State-owned Coal India Ltd has achieved output of 39.20 million tonne in November, missing its production target of 41.93 MT.

It achieved coal offtake of 38.76 MT in November, as against the target of 41.65 MT, CIL said in a filing to the BSE. No reasons were given by the company for missing the November targets.

In the first eight months of the current fiscal, CIL output was 274.71 MT, as against the April-November target of 289.38 MT, CIL said.

CIL’s offtake for April-November period was 298.63 MT, while the target was 310.43 MT.

[caption id=“attachment_1262407” align=“alignleft” width=“300”]  Coal Minister Sriprakash Jaiswal has asked CIL to meet targets. AFP.[/caption]

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The company has been facing criticism from various quarters for missing the production targets. It was asked last week by Coal Minister Sriprakash Jaiswal to meet its production target for the 2013-14 fiscal.

The ministry has set production target of 482 MT and offtake of 492 MT for CIL for 2013-14.

The message was communicated to the company during the target review meeting held in November, according to a coal ministry official.

CIL had produced 35.03 MT coal in October, missing its target of 40.82 MT. It also missed the offtake target of 41.55 MT for the month. It registered actual offtake of 35.51 MT.

According to a CIL official, the PSU had suffered production loss in October due to Cyclone Phailin, which affected the key coal producing states of Odisha, Jharkhand and West Bengal.

CIL, which accounts for over 80 percent of the domestic production, contributed 452.5 MT of coal in the previous financial year compared with the target of 464 MT.

PTI