Coal news and updates

Slowdown impacting e-auction realisations: CIL chief

September 19: The economic slowdown in India has not impacted Coal India Ltd’s business in general, but has affected the price realisations at e-auction sales, CIL Chairman S Narsing Rao said.

“Although there is a general slowdown in the economy, our business model has remained intact. The demand for coal at the e-auction is maintained, but the price realisation has been affected,” Rao said at the company’s 39th Annual General Meeting (AGM) in Kolkata.

“As a result, there has been Rs 550 crore of less realisation in e-auction sales in the first quarter (April-June) this year, compared to the same period last year. This has slightly impacted our margins,” he added.