Wednesday, 16 Nov 2011 Source - ET Now
In an interview with ET Now, Mr NC Jha CMD of Coal India, talks about the company's performance.
ET Now - Walk us through your quarterly numbers and how things have panned for Coal India for the quarter gone by?
Mr NC Jha - The profit in the second quarter of this year has been about 2593 crore compared to 4143 crore in the first quarter. But compared to the same period previous year it has been about 74% increase. The same period previous year was 1494 crore, so there was an increase of 199 crore and 74% increase. If you consider the half yearly basis then it has increased by about 2717 crore which is 68% increase over the previous year.
ET Now - What about the major factors leading to the decline that we have seen in coal production for the second quarter, your off take of coal that as well has been very low?
Mr NC Jha - Yes, second quarter results have shown depressed coal production as well as offtake and this is largely because of excessive rainfall in the two months of August and September. This year we had much more rainfall compared to the previous year and this increase was from 150% to 300%. So, that had led to drowning of the mines and the off take and both production and off take had come down heavily. That also affected the future production because overburden removal could not take place of the same place. But now things are picking up and we had about 10 million tonnes less production, about 5 million tonne less off take but you can see the financial results have been quite bright.
ET Now - How have realisations move for Coal India for the quarter gone by and one word especially on your spot market trades?
Mr NC Jha - If you compare the realisation of second quarter vis-a-vis the same period previous year the realisation has increased by about 2046 crore which is 18% more. So, sales realisation has increased by 18%, income from other sources like interest etc. has increased by 42% and overall total income has increased by 23%.
In an interview with ET Now, Mr NC Jha CMD of Coal India, talks about the company's performance.
ET Now - Walk us through your quarterly numbers and how things have panned for Coal India for the quarter gone by?
Mr NC Jha - The profit in the second quarter of this year has been about 2593 crore compared to 4143 crore in the first quarter. But compared to the same period previous year it has been about 74% increase. The same period previous year was 1494 crore, so there was an increase of 199 crore and 74% increase. If you consider the half yearly basis then it has increased by about 2717 crore which is 68% increase over the previous year.
ET Now - What about the major factors leading to the decline that we have seen in coal production for the second quarter, your off take of coal that as well has been very low?
Mr NC Jha - Yes, second quarter results have shown depressed coal production as well as offtake and this is largely because of excessive rainfall in the two months of August and September. This year we had much more rainfall compared to the previous year and this increase was from 150% to 300%. So, that had led to drowning of the mines and the off take and both production and off take had come down heavily. That also affected the future production because overburden removal could not take place of the same place. But now things are picking up and we had about 10 million tonnes less production, about 5 million tonne less off take but you can see the financial results have been quite bright.
ET Now - How have realisations move for Coal India for the quarter gone by and one word especially on your spot market trades?
Mr NC Jha - If you compare the realisation of second quarter vis-a-vis the same period previous year the realisation has increased by about 2046 crore which is 18% more. So, sales realisation has increased by 18%, income from other sources like interest etc. has increased by 42% and overall total income has increased by 23%.
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