Coal India misses its production target by 44.48 million tonnes

KOLKATA: Coal India on Monday said it missed its annual production target by 44.48 million tonnes as it produced 554.13 million tonnes by the end of 2016-17 against a target of 598.61 mt.

According to the provisional data, the miner also missed its off-take target for 2016-17 by 55.45 million tonnes.

Against a target of 598.61 million tonnes, its off-take for the last fiscal was at 543.16 million tonnes -- up 1.6 per cent over the off-take for 2015-16.

The miner achieved 93 per cent of its annual production target for the last fiscal achieving a 2.9 per cent growth over its production in 2015-16.

Coal India, which produces 84 per cent of the country's coal production, exceeded the target for March by producing 66.07 million tonnes.

For March only, its off-take was at 52.30 million tonnes, achieving 90 per cent of the monthly target of 58.30 million tonnes.

During 2015-16, the miner produced 538.75 million tonnes and its off-take was at 534.50 million tonnes.

The miner's projected production volume was 660.7 million tonnes in 2017-18 and it envisaged production of 908.10 million tonnes in 2019-20 with a CAGR (Compound Annual Growth Rate) of 12.98 per cent, with respect to 2014-15.