Coal India Ltd (CIL) production is expected to be down marginally at about 430 million tonnes this fiscal over the last year's but profit would jump to close to Rs.11,000 crore, a top company official said on Friday.
“The production will be less by one million tonne over the previous year,” Coal India's acting Chairman N. C. Jha said here on the sidelines a function here. However, despite de-growth in production as against 6.8 per cent rise in production in 2009-10, the company was looking forward for jump in net profit to close to Rs.11,000 crore, Mr. Jha said.
In 2009-10, the net profit was Rs.9,830 crore.
With the hike in coal price and higher realisation from e-auction of coal, the company is confident for registering higher profit.
The company had blamed environmental clearances and restrictions for many new coal mining projects.
On the after-effects of the Japan earthquake, Mr. Jha said this could lead to an increase in demand for coal as there might be some slowdown in the nuclear energy sector.
