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In December 2018, shipments from Indian coal companies declined
for the first time in the past two years due to operational issues at its largest subsidiary.
According to its exchange document, shipments by state-run mining companies fell 1.
3% year-on-year, the first time since October 2016 fell to 52.
8 million mt.
Coal India's output also fell 0.
9 percent year-on-year to 54.
1 million mt, down from the past 17 months
.
Nevertheless, Coal India said it was a one-off and expected its subsidiary, South Eastern Coalfields Ltd.
, to contribute in production and procurement as operational issues were gradually resolved
.
Kotak Securities said a drop in sales in November and December weighed on growth
in the third quarter of the 2018-19 fiscal year.
Due to modest capacity growth and reduced electronic auction sales, the brokerage lowered its earnings forecast
for the fiscal year ending March 2019 to March 2021.
In December 2018, shipments from Indian coal companies declined
for the first time in the past two years due to operational issues at its largest subsidiary.
According to its exchange document, shipments by state-run mining companies fell 1.
3% year-on-year, the first time since October 2016 fell to 52.
8 million mt.
Coal India's output also fell 0.
9 percent year-on-year to 54.
1 million mt, down from the past 17 months
.
Nevertheless, Coal India said it was a one-off and expected its subsidiary, South Eastern Coalfields Ltd.
, to contribute in production and procurement as operational issues were gradually resolved
.
Kotak Securities said a drop in sales in November and December weighed on growth
in the third quarter of the 2018-19 fiscal year.
Due to modest capacity growth and reduced electronic auction sales, the brokerage lowered its earnings forecast
for the fiscal year ending March 2019 to March 2021.
