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CIL Report Gains INR 3,125 Crore

Coal News - Published on Fri, 24 Jul 2020

Image Source: CIL
State-owned Coal India Limited said that supply of improved quality coal over committed grades and supply beyond annual contracted quantity have resulted in the PSU gaining over INR 3,125 crore. CIL said "Coal India Ltd's concentrated efforts on supply of improved quality coal over committed grades and supply beyond annual contracted quantity have paid off as the company on whole gained a tidy amount over these twin attributes. An amount of around INR 1,365 crore provisioned under coal quality variance in the earlier years has been withdrawn, in the last fiscal, which is the net gain to CIL on whole."

The PSU's coal supplies, above agreed ACQ to its customers, having fuel supply agreement, also netted the company a substantial amount of over INR 1,760 crore under performance incentive during the previous two fiscals combined. For 2019-20, the performance incentive earned was INR 875 crore, whereas the same was INR 888 crore during 2018-19.

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Posted By : Yogender Pancholi on Fri, 24 Jul 2020
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