Coal India subsidiaries help it post double-digit sales growth at 9.2%

KOLKATA: Three subsidiaries of Coal India ( CIL) helped the staterun mining behemoth post a near double-digit year-on-year expansion in sales in the first three quarters of this fiscal year. On Friday, Coal India reported a 9.1 per cent in crease in production at 373 million tonnes (MT) for the April-December 2015 period.

Central Coalfields, South Eastern Coalfields and Mahanadi Coalfields registered 13.3 per cent, 11.9 per cent and 12.6 per cent sales growth, even as sales at the remaining five coal producing subsidiaries grew at a slower pace. Production at Central Coalfields, South Eastern Coal fields and Mahanadi Coalfields expanded 13.6 per cent, 16.7 per cent and 11.8 per cent.

Eastern Coalfields' sales dropped 0.4 per cent in the nine-month period from a year earlier. The subsidiary sold 27 MT of coal and managed to achieve only 88 per cent of the target for the period. The unit also failed to achieve its production target -it managed just 93 per cent of the aim -as production fell 2.4 per cent.