Coal India misses April-December output target

State-owned Coal India Ltd (CIL) recorded an output of 319.19 million tonnes (MT) for the April-December period, missing the target by 4.5 per cent.

The world's largest coal miner had set a production target of 334.44 MT for the nine-month period.

On the offtake front, the miner missed the target by 3.5 per cent in the April-December period. Offtake during the period stood at 341.52 MT as against the target of 353.94 MT, the PSU said in a filing with BSE.

However, no reasons were given by the company for missing both the output and offtake target.

CIL, which accounts for over 80 per cent of the domestic production, contributed 452.5 MT of coal in the previous financial year, compared with the target of 464 MT.

The Coal Ministry has set a production target of 482 MT and offtake of 492 MT for CIL for 2013-14.

Coal India shares closed at Rs 283 a piece on BSE, down 3.05 per cent against the previous close.