Categories: Business

Coal India slashes production target for the current financial year, will extract 65-66 million tonnes coal in 2020-21

Photo: DNA INDIA

Coal India revises production target to 650-660 mn tonne in FY'21

new Delhi. Public sector company Coal India Limited (CIL) has lowered its production target to 65-66 million tonnes for the current financial year 2020-21 in view of the bottlenecks caused by the Kovid-19 epidemic. The company had earlier set a target of producing 71 million tonnes in the current financial year.

The company's chairman Pramod Aggarwal gave this information while addressing a webinar organized by the India Chamber of Commerce on Saturday. Aggarwal said that the demand for coal has been affected due to the Kovid-19 epidemic. However, now demand is improving after industries start operating. He said that given the current situation, we expect our production to be 65 to 66 million tonnes in the current financial year.

He said that there was an improvement of seven to eight percent in the demand of Coal India in August. The public sector Maharatna company produced 602 million tonnes of coal last year, against the target of 63 million tonnes.

Divis Lab's first quarter net profit up 81 percent at Rs 492 crore

Pharma company Divis Laboratories' consolidated net profit for the first quarter ended June of the current financial year rose 80.61 percent to Rs 492.06 crore. This earned the company a net profit of Rs 272.44 crore in the same quarter of the previous financial year. In a communication sent to BSE, the company said that its total income rose to Rs 1,747.80 crore during the quarter, from Rs 1,193.20 crore in the same quarter last fiscal.

The company said the Kovid-19 epidemic had little impact on its operations. Its operations remained largely normal during the quarter.

This post was published on August 8, 2020 4:49 pm

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