CIL profit dip to Rs 8,213 cr in 2006-07
Owing to increased production cost and discontinuation of e-marketing, profit of Coal India Limited (CIL) and its subsidiaries has dipped by Rs 464 crore during the last fiscal, the government said on Wednesday.
By PTI |
CIL profit dip to Rs 8,213 cr in 2006-07
NEW DELHI: Owing to increased production cost and discontinuation of e-marketing, profit of Coal India Limited (CIL) and its subsidiaries has dipped by Rs 464 crore during the last fiscal, the government said on Wednesday.
In reply to a query in Lok Sabha, Minister of State for Coal Dasari Narayana Rao said according to the provisional figures the profit of CIL and its subsidiaries dipped to Rs 8,213 crore during the last fiscal from Rs 8,677 crore during the previous fiscal.
He said increase in cost of production and discontinuance of e-marketing were the main reasons for the decline in the PSU's profit.
However, the projected profit of CIL in 2007-08 would be Rs 8,462 crore with a production target of 384.51 million tonnes.
"Percentage growth in production and profit has been envisaged at 6.49 per cent and 3.04 per cent respectively," the minister said.
Replying to another query, Rao said the value of additional quantity of coal proposed to be extracted by CIL during 2011-12 was Rs 12,248 crore and Rs 319.80 crore for Singareni Collieries Company Limited (SCCL).
The projected capital investment to achieve the additional coal production during the 11th Plan over the 10th Plan was Rs 9,821.53 crore for CIL and Rs 1761.25 crore for SCCL.
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