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20% yoy likely dip in Coal India’s October production

The production of state-owned coal behemoth Coal India in October is likely to be 19-20% lesser at about 40 MT as compared to 49.77 MT produced in the year-ago month. The company actually produced 37.92 MT of coal till October 30, against a target of 57.17 million tonnes for the month. This year in September, the miner produced 30.77 MT of coal.

The provisional data suggests that Coal India produced 278.92 million tonne of coal till October 30 in FY20, achieving 82.17% of the target of 339.43 million tonne. Rating agency ICRA had also predicted that Coal India’s output target will be missed by about 55-75 MT.