News Brief | September 2015
CIL´s e-auction sales at 12% of Q1
Coal India Limited´s e-auction sales in Q1FY2015-16 has once again reached 16 million tonnes (mt), which is over 12 per cent of its April-June quarter´s total offtake.
E-auction volume was 16 mt, while realisation from e-auction sales was at Rs 3,494 crore, said an official. The trend is likely to continue throughout the financial year and CIL might register record e-auction sales in the current year.
CIL recorded an offtake of 129.39 mt in the first quarter of 2015-16, registering an 8 per cent growth. Production in the first three months of FY2015-15 increased by 12 per cent at 121.35 mt as against 108.32 mt in the same period last year.
CIL´s profitability to a large extent is dependent on the realisation from e-auction, as this contributes 35-40 per cent of total Ebitda ands would mean higher profitability in the coming quarters.