India's largest coal miner, state-owned Coal India Limited, produced 43.51 million mt in October, 8.37 million mt below the target of 51.88 million mt, the company said in a regulatory filing to the Bombay Stock Exchange Tuesday.
The output for October was, however, up 1.9% year on year. It was also higher compared to September's output of 35.24 million mt.
The company produced 273.57 million mt of coal in the first seven months (April-October) of the ongoing fiscal year 2016-2017 (April-March), missing the targeted output of 307 million mt and showing flat growth year on year.
The offtake or sales to CIL consumers stood at 43.04 million mt in October versus the targeted 47.96 million mt, the company said.
Over April-October, CIL posted an offtake of 292.16 million mt against the target of 331.76 million mt.
The company didn't give any reasons for missing the output and offtake targets.
CIL, which meets over 80% of the country's coal requirement has a production target of 598 million mt for the ongoing fiscal year and it is planning to produce 1 billion mt/year by 2020.
