COALINDIA

June 5 (Reuters) - Coal India Ltd COAL.NS:

• COAL INDIA - TAKES STEPS TO OFFER MORE COAL TO NRS

• COAL INDIA - CIL OFFERS 35 MILLION TONNES COAL UNDER LINKAGE AUCTION ON 12 JUNE

• COAL INDIA - CIL HAS PUT ON OFFER AN ALL-TIME HIGH OF 35 MILLION TONNES (MTS) UNDER LINKAGE AUCTION WINDOW TO BE HELD ON 12TH JUNE

• COAL INDIA - CIL WILL BE CONDUCTING NEXT ROUND OF SHORT- TERM AUCTIONS ON 8 JUNE

• COAL INDIA - CIL OFFERS 13.75 MILLION TONNES COAL TO STEEL (COKING) SUB-SECTOR

• COAL INDIA - ALLOWED STEEL (COKING) SUB-SECTOR TO SELL COAL MIDDLINGS IN OPEN MARKET

Source text: ID:nBSE4vVCxR

Further company coverage: COAL.NS

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** State-owned miner Coal India COAL.NS posted an 11.6% decline in May coal production, while coal offtake increased 2.2% Y/Y

** COAL shares down as much as 1.95% to 463.2 rupees

DEMAND OUTLOOK OFFSETS WEAK OUTPUT

** Emkay ("add"; PT: 475 rupees) says COAL's weak May production reflected comfortable inventory levels, expects output to accelerate through FY27 on the back of strong power demand

** Dolat Capital ("accumulate"; PT: 500 rupees) says COAL's May performance was subdued despite stronger coal-fired power demand, though higher global coal prices could support e-auction premiums and realizations

** Axis Capital ("add"; PT: 500 rupees) says declining Indonesian coal exports and higher global coal prices could support COAL's e-auction realizations and volume growth in FY27

** ICICI Direct Research says softer e-auction allocations and premiums could weigh on near-term growth, though it remains positive on Coal India over the longer term

** YTD stock up 18.13%

(Reporting by Devika Nair in Bengaluru)

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June 1 (Reuters) - Coal India Ltd COAL.NS:

• COAL INDIA - COAL OFFTAKE IN MAY UP 2.2% Y/Y

• COAL INDIA- COAL PRODUCTION IN MAY DOWN 11.6% Y/Y

Source text: ID:nBSE1x39B3

Further company coverage: COAL.NS

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May 26 (Reuters) - Coal India Ltd COAL.NS:

• INDIA GOVERNMENT TO SELL UP TO 2% STAKE IN COAL INDIA VIA OFFER FOR SALE - FILING

• FLOOR PRICE FOR COAL INDIA OFS AT 412 RUPEESPER SHARE - FILING

Source text: ID:nnAZN4SYMDZ

Further company coverage: COAL.NS

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BHUBANESWAR, May 14 (Reuters) - One person was killed and 11 others injured after an air blast at an Eastern Coalfields Ltd (ECL) mine in Asansol in West Bengal state, local police said on Thursday.

Around 120 workers were present in an underground mine when the blast happened, Dhruba Das, a senior police officer told Reuters, adding that the rescue operations have been completed.

Mines operations were not impacted, an ECL official told Reuters. ECL is a unit of state-run miner Coal India COAL.NS.

Economic Times newspaper reported earlier that at least 40 mine workers were injured in the accident.

(Reporting by Jatindra Dash and Hritam Mukherjee)

(([email protected]; @MukherjeeHritam;))

Adds details, background

By Sethuraman N R

NEW DELHI, May 13 (Reuters) - India's cabinet approved a 375 billion rupee ($3.92 billion) scheme to boost coal gasification projects, reducing reliance on imported fuels and channelling domestic coal into cleaner industrial uses, Information Minister Ashwini Vaishnaw said.

The cabinet decision seeks to encourage the conversion of coal into synthetic gas that can be used to produce power, fertiliser, petrochemical among other industrial applications.

That, in turn, would help reduce India's imports of liquefied natural gas (LNG), urea, ammonia and methanol, Vaishnaw said on Wednesday.

The scheme comes as India's gas imports have been impacted by the Middle East crisis.

Several countries, including the United States and China, are also exploring coal gasification technologies as part of efforts to cut emissions while continuing to rely on coal for energy security.

India, which has one of the world's largest coal reserves of 401 billion tons and 47 billion tons of lignite, aims to gasify about 75 million metric tons of coal annually, Vaishnaw said, with the scheme expected to bring investments of about 3 trillion rupees.

Under the plan, the government will provide financial assistance of around 20% of the cost of plant and machinery.

Interest in the sector is expanding among power producers. State-run power producer NTPC is looking to enter the coal gasification business, with plans to produce between 5 million and 10 million tonnes per annum of synthetic gas over the next three to four years, Reuters reported last year.

India had in 2024 approved an 85-billion-rupee coal gasification incentive scheme.

($1 = 95.7700 Indian rupees)

(Reporting by Sethuraman NR, Hritam Mukherjee and CK Nayak
Editing by Bernadette Baum)

(([email protected]; @MukherjeeHritam;))

May 7 (Reuters) -

• INDIA GOVERNMENT TO DIVEST 3%-4% STAKE IN COAL INDIA WORTH 100 BILLION RUPEES VIA OFFER FOR SALE - CNBC-TV18

Further company coverage: COAL.NS

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May 5 (Reuters) - Coal India Ltd COAL.NS:

• COAL INDIA - RECEIVES COMMISSIONING CERTIFICATE FOR 100 MW SOLAR POWER PLANT IN GUJARAT

Source text: ID:nNSE6vq1XP

Further company coverage: COAL.NS

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** Shares of Coal India COAL.NS rise 3.7% to 469.05 rupees

** The state-owned miner beats Q4 profit, helped by higher prices and pickup in demand from customers ahead of peak summer season

** Gas supply shortfall linked to the U.S.-Israeli war against Iran also lifted coal consumption as an alternative

** Jefferies expects stronger power demand growth in FY27, due to high chances of intense summer and El Nino, as lower rainfall typically boosts agricultural and residential power use

** Emkay - In Q4, COAL's strong e‑auction realizations it cooled sequentially due to lower reserve prices but premiums are expected to sustain around 55% through FY27-28

** Analysts have a "hold" rating on avg; median PT is 440 rupees - data compiled by LSEG

** YTD, COAL up 14.3%

(Reporting by Urvi Dugar in Bengaluru)

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April 27 (Reuters) - State-owned miner Coal India COAL.NS reported a larger-than-expected quarterly profit on Monday, driven by higher prices and a pickup in demand from customers ahead of peak summer season, as a gas supply shortfall linked to the U.S.-Israeli war against Iran lifted coal consumption.

The company reported consolidated net profit of 108.39 billion rupees ($1.15 billion), higher than analyst expectations of 92.24 billion rupees, as per data compiled by LSEG.

• The company's consolidated net profit rose 11.2% to 108.39 billion Indian rupees in the quarter ended March 31, from 97.52 billion rupees a year earlier.

• India relies on coal for three-fourths of its electricity generation. Higher power consumption during the winter, as well as a warm February and heatwave conditions in March, contributed to power usage in the quarter.

• Consolidated revenue from operations rose nearly 6% to 464.90 billion rupees

• Coal India's offtake, or sales to customers, rose for the first time in six months in March. Sales increased ahead of peak summer, amid a shortfall in gas supply due to the Iran war.

• Analysts from Elara Capital said ahead of the results that increased production year-on-year would help sales and profit growth, despite a 1.4% decline in offtake compared to last year.

• The company's average realisation, or average selling price per tonne, rose about 6% to 2,289.58 rupees, supporting revenue

($1 = 94.1900 Indian rupees)

(Reporting by Abhirami G in Bengaluru; Editing by Tasim Zahid)

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** Shares of Coal India COAL.NS down 2.22% at 444.20 rupees

** Stock declines after co says it is absorbing sharp rise in input costs instead of passing them on to consumers

** Says cost of ammonium nitrate, key explosive input for opencast mining, has risen about 44% to 72,750 rupees per metric ton as of April 1vs levels before West Asia crisis

** Adds, it is compensating contractors for higher diesel costs and maintaining affordable coal supply to avoid impact on downstream users

** COAL, on avg, rated "hold" by 22 analysts; median PT 436 rupees- LSEG data

** YTD, stock up ~14%

(Reporting by Devika Nair in Bengaluru)

(([email protected];))

April 8 (Reuters) - ** Shares of Coal India COAL.NS down about 3% at 448.15 rupees; set to fall the most since Feb 1

** Biggest loser on Nifty 50 index .NSEI, which is up 3.6%

** Stock falls after U.S. agreed to a two-week ceasefire with Iran, easing concerns over oil and LNG flows through Strait of Hormuz

** Expectations of higher demand for alternative feedstock amid Middle East conflict led to rise in COAL earlier this month

** Co accounts for over 80% of India's production and is world's largest coal miner by output

** COAL rated "hold" on average by 22 analysts, median PT at 434.50 rupees - data compiled by LSEG

** YTD, COAL up about 12% vs Nifty 50's nearly 8% decline

(Reporting by Bipasha Dey in Bengaluru)

(([email protected];))

By Sethuraman N R

NEW DELHI, April 1 (Reuters) - Coal India's COAL.NS sales in March grew for the first time in six months, the company said on Wednesday, indicating a ramp-up in coal stocks ahead of peak summer amid a shortfall in gas supply due to the U.S.-Israeli war against Iran.

Coal India's offtake, or sales to customers, rose 0.7% to 69.5 million tons in March, despite a 1.5% drop in its provisional output to 84.5 million tons, the company said in a stock exchange filing.

The state-run company accounts for over 80% of the country's production and is the world's largest coal miner by output.

Coal India's offtake fell for six consecutive months after a 7.6% jump in August, boosting inventory levels at power plants as temperate weather dented India's power demand in 2025.

The higher stocks have kept import demand subdued despite the peak summer season approaching, said Vasudev Pamnani, director at Gujarat-based coal trader iEnergy Natural Resources.

Domestic coal remained relatively more attractive in certain segments, he said, adding that disruptions in liquefied natural gas supply and reduced gas-based power generation are expected to boost reliance on coal for power generation.

India, which relies on coal for nearly 75% of its power generation, is expected to lean more on the polluting fuel during the summer due to the gas shortage, Reuters reported in March.

Although gas accounts for only around 2% of India's total power generation, the South Asian country uses about 8-10 gigawatts (GW) of gas power during peak-demand periods or heatwaves.

In the absence of gas, India has asked its coal plants to run at maximum capacity and avoid planned outages, and has also asked industries to produce their own power through their captive generation plants to free up supplies for households.

India is set to experience a hotter-than-normal summer this year, with heat wave days in May expected to exceed the seasonal average.

(Reporting by Sethuraman NR; Editing by Varun H K)

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** Shares of Coal India COAL.NS rise as much as 3.25%, before settling up 1.37% at 450.85 rupees

** Co receives letter of award worth 10.57 bln rupees ($111.37 mln) from Telangana Power Generation Corp to set up a battery energy storage system plant

** Gains also come amid government efforts to widen coal availability beyond traditional sectors such as power

** Earlier this month, government asked the state-run miner to make coal available to small and medium enterprises and the hospitality sector, including restaurants and hotels

** COAL stock up 11.54% YTD

($1 = 94.9100 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

March 27 (Reuters) - Coal India Ltd COAL.NS:

• TO SET UP EIGHT NEW COKING COAL WASHERIES WITH 33 BILLION RUPEES OUTLAY

• TO INVEST 3 BILLION RUPEES IN RENOVATION OF EXISTING COKING COAL WASHERIES

• EIGHT NEW WASHERIES TO BE OPERATIONAL BY FY 2030 WITH 21.5 MT/Y CAPACITY

Source text: ID:nBSEc9YbjV

Further company coverage: COAL.NS

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March 24 (Reuters) - Central Mine Planning & Design Institute's CENM.NS $198.7 million initial public offering was subscribed only 96% as retail and non-institutional investors remained on sidelines due to the Middle East conflict and company's reliance on parent Coal India COAL.NS for most of its revenue.

The company received bids for 76.4 million shares, against 79.8 million on offer, exchange data showed.

($1 = 93.3060 Indian rupees)

(Reporting by Vivek Kumar M and Nandan Mandayam in Bengaluru)

(([email protected];))

March 23 (Reuters) - Coal India Ltd COAL.NS:

• COAL INDIA - APPROVED FOR SECL DISINVESTMENT VIA OFS UP TO 25% EQUITY, FRESH ISSUE UP TO 10%

Source text: ID:nBSE9ClxLJ

Further company coverage: COAL.NS

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March 16 (Reuters) - Coal India's COAL.NS subsidiary Central Mine Planning & Design Institute CENM.NS has set a price band of 163 to 172 rupees per share for its initial public offering (IPO), which will be launched on March 20, a newspaper advertisement showed.

(Reporting by Vivek Kumar M; Editing by Sherry Jacob-Phillips)

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Adds details from paragraph 2

By Nidhi Verma

March 13 (Reuters) - India has asked liquefied petroleum gas consumers to avoid panic buying of LPG cylinders and shift to piped natural gas where possible, oil ministry official Sujata Sharma said on Friday.

India's crude oil, LPG, and liquefied natural gas supplies have been disrupted due to global shipping constraints after the U.S.-Israeli war with Iran halted traffic through the Gulf and the Strait of Hormuz.

"LPG is an issue of concern," said Sharma, a joint secretary in the federal oil ministry, adding the government is cracking down on black marketing and hoarding of LPG cylinders in coordination with states.

About 333 million households use LPG cylinders, and more than 150 million get gas supplies through pipelines. Sharma said about six million LPG-consuming households could easily switch to piped gas use.

"We request them to avail piped gas connection to ease pressure on LPG," she said.

She also said that commercial and industrial consumers in major urban cities facing LPG shortages should contact their local city gas distribution company to arrange a piped gas connection.

PANIC BUYING

India consumed 33.15 million metric tons of cooking gas last year, with imports accounting for about 60% of demand. About 90% of those imports came from the Middle East.

Panic buying had pushed daily LPG booking requests to about 7.6 million as of Thursday from around 5.5 million on March 1, with most bookings made online, Sharma said.

India has asked refiners to boost LPG production. Domestic LPG production has risen by 30% since March 5, she said.

The government has prioritised LPG supplies for households, followed by hospitals and educational institutions, while allowing commercial users to use alternative fuels such as biomass, coal and fuel oil.

India has asked Coal India COAL.NS, the country's top coal producer, to make coal available to small and medium enterprises and the hospitality sector, including restaurants and hotels, Sharma said.

To overcome the shortage, Indian ports are giving priority berthing to LPG carriers, said Rajesh Kumar Sinha, special secretary at the ministry of shipping.

(Reporting by Nidhi Verma in New Delhi; Editing by Janane Venkatraman and Jan Harvey)

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BENGALURU, March 12 (Reuters) - ** India's Nifty 50 .NSEI and Sensex .BSESN down 0.5% each, set for a second session of losses, if current trend holds

** Rising crude oil prices due to the Middle East conflict and renewed trade worries dampen risk sentiment

** Eleven of the 16 major sectors trade lower; broader mid-caps .NIFMDCP100 and small-caps .NIFSMCP100 drop 0.3% and 0.6%, respectively

** Brent crude oil prices jump 7% to hover around $98 a barrel on reports of more ships struck in Gulf waters and terminal shutdown [O/R

** Meanwhile, the U.S. opens new investigation into unfair trade on 16 countries, including India, in a bid to rebuild tariff pressure

** Asia stocks outside Japan .MIAPJ0000PUS down 1.4% GLOB/MKTS

** Auto stocks .NIFTYAUTO down 2.5%, lead sectoral losers, on concerns over higher crude oil prices and global supply disruption

** Coal India COAL.NS jumps 4.2%, top Nifty gainer, on expectations of surge in coal demand amid the Middle East war and early summer

(Reporting by Vivek Kumar M)

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Recasts, adds details on stocks, context throughout

NEW DELHI, March 11 (Reuters) - India has sufficient coal supplies to meet what is expected to be an unprecedented surge in demand during the summer months, the Coal Ministry said on Wednesday, after gas supply disruptions due to the U.S.-Israeli war on Iran.

The overall coal stock available in the country is about 210 million metric tons, which would be sufficient for about 88 days of consumption, the ministry said in a statement.

The South Asian country still relies on coal for three-fourths of its electricity generation, even as it ramps up renewable energy generation at a record pace.

The statement comes as India expects to boost its coal power usage to meet the summer demand after the conflict in the Middle East hit its supplies of natural gas, mainly from Qatar.

The country's power plants had 54.05 million tons of coal, enough for about 24 days at the current rate of consumption, the ministry said. Pithead stock at Coal India COAL.NS, which produces three-quarters of India's output, was around a record 121.4 million tons as of March 9.

"Coal production and supply continue to be higher than consumption in fiscal year ending March 31," the statement said.

Higher domestic production has also led India to open up exports for neighboring countries and test increased blending of domestic coal in power plants traditionally designed to be operated with imported coal.

(Reporting by Sethuraman NR, Tanvi Mehta and Hritam Mukherjee; Editing by YP Rajesh and Andrei Khalip)

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By Neha Arora and Sethuraman N R

NEW DELHI, March 10 (Reuters) - Scores of small Indian steel producers have warned of production cuts as the escalating Middle East conflict disrupts gas supplies to the world's biggest producer of the alloy after China, industry officials said.

"We are looking at a 50% production cut as of now and a complete halt ahead, if supplies don't improve within a week," Yogesh Kanakiya, director at Triveni Iron and Steel Industries, told Reuters.

Triveni Iron and Steel Industries is based in the western state of Gujarat, the country’s largest gas-consuming region, which relies on the Middle East for much of its liquefied natural gas.

Several small steel mills in Gujarat depend on imported LNG.

Most gas producers, including Gujarat Gas GGAS.NS declared force majeure last week to restrict gas supplies to industries.

"We work on wafer thin margins and our margins have shrunk," said Anshum Goyal, managing director and promoter at Friends Steel Group in Gujarat. "We are concerned over supplies and it is affecting our decision-making in terms of prices we need to keep."

Producers in other parts of India are also grappling with rising coal costs fuelled by geopolitical tensions, adding pressure on margins.

About 6% of India's steel output uses gas-based direct reduced iron, or DRI, while roughly 50% depends on coal-fired blast furnaces.

"The ongoing geopolitical tensions have led to roughly a 10-12% increase in coal and freight costs," said Rahul Mittal, chairman of the Sponge Iron Manufacturers Association.

India produces around 50 million metric tons of sponge iron annually, largely used by secondary steel producers as raw material.

The impact of falling gas supplies has been exacerbated by sharp rises in imported coal prices.

South African thermal coal prices at Indian ports jumped by around 10-13% last week to a three-year high due to firmer freight rates and broader Middle East tensions, commodities consultancy BigMint said.

Coal buying in India has become more cautious amid higher freight costs and elevated global coal prices, said Vasudev Pamnani, director at Gujarat-based coal trader i-Energy Resources.

(Reporting by Neha Arora and Sethuraman NR; editing by Mayank Bhardwaj and Susan Fenton)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Coal India's COAL.NS stock up 3.2% to 449.5 rupees, top gainer on Nifty 50 index .NSEI, which is up 0.51%

** Stock set to rise most in a session since Jan 28

** COAL above 100-day, 200-day SMAs since late Dec

** Citi hikes PT to 430 rupees from 415 rupees, expects stock to rise in next 90 days

** Brokerage says high LNG prices, due to Middle East war, expected to prompt gas-to-coal switch, driving up coal prices and potentially higher e-auction prices

** J.P.Morgan awaits "broader fundamentals to improve before turning constructive" on stock

** Avg rating by 21 analysts is "buy", median PT 436 rupees - data compiled by LSEG

** YTD, COAL up 13% vs .NSEI's 6% loss

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

** MSTC MSTC.NS rises as much as 3.4% to 467.45 rupees

** Co becomes L1 bidder for tender hosted by Coal India COAL.NS for appointment of external service provider to conduct linkage auction for non-regulated sector for 3 years

** More than 211,000 shares traded vs 30-day moving avg of 142,272

** MSTC last up 1.7%, cutting YTD losses to 13.6%

(Reporting by Meenakshi Maidas in Bengaluru)

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Feb 26 (Reuters) - MSTC Ltd MSTC.NS:

• BECOMES L1 BIDDER FOR COAL INDIA TENDER

Source text: ID:nBSEc72jB8

Further company coverage: MSTC.NS

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Repeats story that ran on Monday, with no changes

By Nikunj Ohri

NEW DELHI, Feb 23 (Reuters) - India aims to raise 1.79 trillion rupees ($19.7 billion) from selling stakes in state-run firms through initial public offerings by the 2029/30 financial year, it said on Monday.

The IPOs will be part of a broader push to raise $183.7 billion by monetising state assets over the next four years, the government think tank NITI Aayog said in a report released late on Monday.

The IPOs will be in the railway, power, petroleum and natural gas, aviation and coal sectors, NITI Aayog said.

They are part of Prime Minister Narendra Modi's second four-year plan for asset monetisation, after the first raised 5.3 trillion rupees by 2024/25, below the government's 6 trillion rupee target.

STAKE SALES IN STATE-RUN FIRMS

Under the plan, the government aims to divest stakes in seven railway companies through IPOs that could potentially fetch 837 billion rupees by 2030, the report said. It targets raising 170 billion rupees of that through stock market listings in the coming financial year starting April 1, 2026, the report said, without naming the companies.

It also plans to list subsidiaries of state-run power firms to raise 310 billion rupees over the next four years, alongside 483 billion rupees from initial public offerings of subsidiaries of Coal India COAL.NS and the renewable energy assets of NLC India Limited NLCI.NS.

The Airports Authority of India will sell its stake in one subsidiary, and four airports that it owns through joint ventures with private partners.

In the financial year 2027/28, the government plans to list GAIL GAS, a subsidiary of GAIL (India) GAIL.NS to potentially raise 31 billion rupees, NITI Aayog said.

($1 = 90.9110 Indian rupees)

(Reporting by Nikunj Ohri; Editing by Susan Fenton)

(([email protected]; +91 90284 60730; Reuters Messaging: twitter.com/nikunj_ohri))

By Nikunj Ohri

NEW DELHI, Feb 23 (Reuters) - India aims to raise 1.79 trillion rupees ($19.7 billion) from selling stakes in state-run firms through initial public offerings by the 2029/30 financial year, it said on Monday.

The IPOs will be part of a broader push to raise $183.7 billion by monetising state assets over the next four years, the government think tank NITI Aayog said in a report released late on Monday.

The IPOs will be in the railway, power, petroleum and natural gas, aviation and coal sectors, NITI Aayog said.

They are part of Prime Minister Narendra Modi's second four-year plan for asset monetisation, after the first raised 5.3 trillion rupees by 2024/25, below the government's 6 trillion rupee target.

STAKE SALES IN STATE-RUN FIRMS

Under the plan, the government aims to divest stakes in seven railway companies through IPOs that could potentially fetch 837 billion rupees by 2030, the report said. It targets raising 170 billion rupees of that through stock market listings in the coming financial year starting April 1, 2026, the report said, without naming the companies.

It also plans to list subsidiaries of state-run power firms to raise 310 billion rupees over the next four years, alongside 483 billion rupees from initial public offerings of subsidiaries of Coal India COAL.NS and the renewable energy assets of NLC India Limited NLCI.NS.

The Airports Authority of India will sell its stake in one subsidiary, and four airports that it owns through joint ventures with private partners.

In the financial year 2027/28, the government plans to list GAIL GAS, a subsidiary of GAIL (India) GAIL.NS to potentially raise 31 billion rupees, NITI Aayog said.

($1 = 90.9110 Indian rupees)

(Reporting by Nikunj Ohri; Editing by Susan Fenton)

(([email protected]; +91 90284 60730; Reuters Messaging: twitter.com/nikunj_ohri))

** Shares of Coal India COAL.NS fall 1.5% to 412.95 rupees

** COAL's Q3 consol net profit dropped 15.8% Y/Y, revenue fell 5.2% Y/Y

** Brokerage Jefferies says COAL's third quarter cash EBITDA, excluding one-time executive wage revision impact, fell 5% Y/Y but was still 10% above its estimates thanks to better margins

** JP Morgan cuts PT to 397 rupees from 420 rupees, maintains 'neutral' rating, says clarity on future employee costs will be a key monitorable

** HSBC maintains 'Hold' rating, raises PT to 380 rupees from 374 rupees; raises FY27 EBITDA estimates by 2-3%

** COAL gained around 4% in 2025

(Reporting by Vijay Malkar)

(([email protected];))

Feb 12 (Reuters) - State-run Coal India COAL.NS, which accounts for roughly three‑quarters of the nation's coal output, reported a drop in quarterly profit on Thursday as production softened amid subdued power demand.

The miner, which mainly produces non-coking thermal coal for power generation and industries, said its consolidated net profit slid 15.8% to 71.57 billion rupees ($790.2 million) in the quarter ended December 31.

Revenue from operations dropped 5.2% to 349.24 billion rupees.

India's overall power consumption slipped 0.4% in the third quarter, weighed by unexpected rains in October and cooler-than-usual weather, according to analysts at Nuvama.

Coal-fired power generation in October registered its steepest fall since June 2020. The output dropped another 5.8% in November, before a 4.6% rise in December.

Coal India's average realisation from so-called e-auction sales stood at 2,434.56 rupees per ton, lower than the 2,684.79 rupees per ton in the year-ago period, while overall average price realisation of coal supplied during the quarter fell by 29 rupees from a year ago.

The company gets 10% of its sales through e-auctions at near-spot rates, and sells the rest of its output to domestic customers through long-term contracts.

Shares of the state-owned firm had closed 1% lower ahead of the quarterly results.

($1 = 90.5680 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Mrigank Dhaniwala)

(([email protected]; +91 8697274436;))

Feb 4 (Reuters) - Coal India Ltd COAL.NS:

• COAL INDIA - CIL APPROVES 31.90 BILLION RUPEES INVESTMENT IN BCGCL

Source text: ID:nBSE5cW8ds

Further company coverage: COAL.NS

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