Sunday , October 17 2021

Coal India’s arm incurs losses of Rs 60 crore due to strike

Coal India’s subsidiary — Mahanadi Coalfields (MCL) incurred losses of Rs 60 crore on the first day of the two-day strike. Coal production of MCL, which is currently going at an average of 4.65 lakh tonne a day, is likely to plunge further from its negative growth of 0.87 per cent to around 1.31 per cent during current fiscal due to loss of working hours in various mines if the strike continues.

Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.

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