InvestorQ : How have Coal India output numbers been for the recent period in the midst of the Coronavirus?
Aashna Tripathi made post

How have Coal India output numbers been for the recent period in the midst of the Coronavirus?

Answer
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Tisha Malhotra answered.
4 months ago


The news is not too encouraging for the company. In fact, coal shipments dropped by nearly 25.5% to 39.1 million tons for the month of April 2020. This was an outcome of more than a month-long nationwide lockdown halting economic activity and eroding demand for coal; which largely comes from thermal power plants. Overall output at Coal India fell by 10.9% to 40.4 million tons. Even the global cues are not too encouraging. Global coal demand is heading for its biggest annual drop since World War II with the use of coal to produce electricity becoming unprofitable and socially untenable in several countries. The pandemic has only served to hasten its demise. The lockdown in India has shut factories and offices slashing electricity demand by about a quarter. With the lockdown extended till May 17, Coal India’s output is expected to remain muted until demand picks.