Coal India's October production may fall 20pc

Coal India's production in October is likely to be 19-20 percent lower at about 40 million tonnes, as compared to 49.77 million tonnes produced in the year-ago month, the output data suggested. The miner, which has a target to produce 57.17 million tonnes for the month, has actually produced 37.92 million tonnes of coal till October 30, according to the data.

The coal behemoth had produced 30.77 million tonnes in September this year. The data indicates that the miner's rate-of-production has not been picked up, which led to a shortfall in the month.

Coal India aspires to produce 660 million tonnes of dry fuel in FY20. According to provisional data, the miner produced 278.92 million tonnes of coal till October 30 in FY20, achieving 82.17 percent of the target of 339.43 million tonnes.

The miner's data also suggested that its offtake target was 360.44 million tonnes for the period while the company achieved 314.59 million tonnes. Rating agency ICRA had predicted that Coal India's output target will be missed by 55-75 million tonnes.

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